Alrosa Approves $363 Dividend for 2005

Alrosa’s shareholders approved a 9 percent dividend increase during Saturday's annual meeting. The dividend payout for 2005 is 1.96 billion rubles ($72.46 million).

The diamond miner will pay 9,810 rubles ($363) for each share with a nominal value of 13,500 rubles ($499), compared to the 9,000 rubles ($333) paid in 2004. Alrosa has 200,000 shares with the nominal value of 13,500 rubles.

The increase is modest compared to the payout hikes seen in the past few years. In 2004, the dividend jumped 50 percent over 2003. Dividends in 2003 leaped 71 percent over those paid out for 2002.

Alrosa’s major shareholders are the Russian and Yakutia governments, which hold 37 percent and 32 percent respectively. The rest of the company is held by employees and unions.