Alrosa Recommends 32% Jump on Year in Dividend Payment For 2013

(IDEX Online) – The Supervisory Board of Alrosa has approved a dividend payment for 2013 that is 32 percent higher than the figure for 2012.

Alrosa pays dividends equal to at least 35 percent of International Financial Reporting Standards (IFRS) annual net profit for the year. Alrosa's net profit in 2013 totaled $882 million (31.84 billion rubles).

The board recommended shareholders to vote for paying out $300.0 million (10.83 billion rubles) of net profit on the dividend payment for 2013.

The recommended amount is $73.5 million (2.65 billion rubles), or 32 percent higher, than the dividend paid in 2012.

The remainder of the country's net profit is expected to be spent on capital expenditures budgeted for 2014.