REG-Polymetal International plc Polymetal: Board approves special dividend of US$ 0.20 per share

Polymetal International PKAnnouncement

31/01/2020 07:05

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   Polymetal International plc (POLY)
   Polymetal: Board approves special dividend of US$ 0.20 per share

   31-Jan-2020 / 10:00 MSK
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   Release time IMMEDIATE                      LSE, MOEX, AIX: POLY / ADR:
                AUCOY
   Date         31 January 2020

    

    

   Polymetal International plc

   Board approves special dividend of US$ 0.20 per share

   Polymetal is pleased  to announce  that on 30  January 2020  the Board  of
   Directors of the Company approved a special dividend of US$ 0.20 per share
   for the year ended 31 December 2019.

       Dividend declaration

   In accordance  with  the  Company's  dividend  policy,  the  Directors  of
   Polymetal, having considered  the Group's performance  in 2019,  including
   available free cash flows and debt levels as well as macroeconomic outlook
   and future  investment  requirements,  have  resolved  to  pay  a  special
   dividend of US$ 0.20 per ordinary share, representing approximately US$ 94
   million in aggregate.

   The special dividend will be paid on  5 March 2020 in US Dollars, with  an
   option for  shareholders  to  elect  to receive  the  dividend  in  pounds
   sterling or  euro.  Such an  election  should be  made  no later  than  17
   February 2020. Payments in pounds sterling  and euro will be based on  the
   USD/GBP and  USD/EUR  exchange  rates  determined by  the  Company  on  19
   February 2020 and announced immediately thereafter.

       Details

   EX DIV DATE:              13 February 2020

   RECORD DATE:              14 February 2020

   LAST DATE FOR CURRENCY ELECTION:  17 February 2020

   PAYMENT DATE:                                             05 March 2020

   The Company's issued share capital comprises 470,188,201 ordinary shares.

   "Significant free cash flow generated  by Polymetal in 2019 underpins  the
   payment of  a special  dividend, while  ensuring that  our leverage  ratio
   remains at our target 1.5x  Net Debt/EBITDA level. This decision  supports
   our commitment to deliver meaningful  and sustainable cash returns to  our
   shareholders", said Vitaly Nesis, Group CEO.

       Regular dividend policy

   The Company's dividend policy remains  unchanged. The target payout  ratio
   is 50% of underlying  net earnings for the  period on a semi-annual  basis
   provided that  Net  debt  /  adjusted EBITDA  is  below  2.5x.  The  Board
   considers the potential  for a special  dividend on an  annual basis.  The
   special dividend decision is based, among other factors, on available free
   cash flow (post regular dividends), forward-looking financial projections,
   market outlook, and other relevant factors.

   The amount of the final dividend for  the full year 2019 will be  reviewed
   by the Board in March and  recommended to shareholders for their  approval
   at the Annual General Meeting in April 2020.

    

   About Polymetal 

   Polymetal International (LSE, MOEX: POLY,  ADR: AUCOY) (together with  its
   subsidiaries - "Polymetal",  the "Company",  or the "Group")  is a  top-20
   global gold producer  and a top-5  global silver producer  with assets  in
   Russia and Kazakhstan. The  Company combines strong  growth with a  robust
   dividend yield.

   Enquiries

       Media                      Investor Relations
                              Polymetal
                                              1 ir@polymetalinternational.com
   FTI Consulting             Evgeny
                              Monakhov       +44 20 7887 1475 (UK)
   Leonid Fink     +44 20
                   3727 1000  Timofey         
   Viktor Pomichal            Kulakov
                                             +7 812 334 3666 (Russia)
                              Kirill
                              Kuznetsov
       Joint Corporate             
       Brokers
                   +44 20
   Morgan Stanley  7425 8000
                              RBC Europe
   Andrew Foster              Limited

   Richard Brown              Marcus Jackson +44 20 7653 4000

   Panmure Gordon             Jamil Miah

   James Stearns   +44 20
                   7886 2500

    

   Forward-looking statements

   This release may  include statements  that are, or  may be  deemed to  be,
   "forward-looking statements". These forward-looking statements speak  only
   as at the date  of this release. These  forward-looking statements can  be
   identified by the use of forward-looking terminology, including the  words
   "targets",  "believes",  "expects",  "aims",  "intends",  "will",   "may",
   "anticipates", "would", "could" or "should" or similar expressions or,  in
   each  case  their  negative  or  other  variations  or  by  discussion  of
   strategies, plans, objectives, goals,  future events or intentions.  These
   forward-looking statements  all include  matters that  are not  historical
   facts. By their nature, such forward-looking statements involve known  and
   unknown risks,  uncertainties  and  other  important  factors  beyond  the
   company's control  that could  cause the  actual results,  performance  or
   achievements of  the  company  to  be  materially  different  from  future
   results,  performance  or  achievements  expressed  or  implied  by   such
   forward-looking statements. Such forward-looking  statements are based  on
   numerous assumptions regarding the  company's present and future  business
   strategies and the environment  in which the company  will operate in  the
   future.  Forward-looking   statements  are   not  guarantees   of   future
   performance. There are many factors that could cause the company's  actual
   results, performance  or  achievements  to differ  materially  from  those
   expressed  in  such  forward-looking  statements.  The  company  expressly
   disclaims any  obligation or  undertaking to  disseminate any  updates  or
   revisions to any  forward-looking statements contained  herein to  reflect
   any change in the company's expectations with regard thereto or any change
   in events, conditions or  circumstances on which  any such statements  are
   based.

    

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   ISIN:          JE00B6T5S470
   Category Code: DIV
   TIDM:          POLY
   Sequence No.:  43633
   EQS News ID:   964523


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:ir@polymetalinternational.com


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