Press Release | 21 October 2024 |
PJSC Polyus
The Board will consider Dividend Recommendation for 9 months of 2024
The Board of Directors (the "Board") of PJSC Polyus (MOEX - PLZL) ("Polyus", or the "Company") will consider dividend payment for 9 months of 2024 on 23 October 2024.
Based on the current number of outstanding shares (excluding shares held by the Company's subsidiaries), the total amount of dividends could amount to 30% of the Company`s adjusted EBITDA for the last four quarters (9M 2024 and 4Q 2023), which is in line with Polyus' current dividend policy.
If the Board decides to recommend dividend payments and the Extraordinary General Meeting of Shareholders subsequently decides to declare dividends, the payments will be made within the legislative deadlines.
Alexey Vostokov, Chief Executive Officer of PJSC Polyus, commented:
"The foreign economic environment continues to be tense but the current favorable pricing environment on the gold market, coupled with tight cost control and focus on improving operational efficiency, allows the Company to maintain a high level of its credit profile. The Company remains committed to its strategic goals of long-term production growth through the implementation of large-scale investment projects, primarily Sukhoi Log. We are on the final step in the project re-engineering process and plan to disclose its results to investors before the end of 2024. The Board of Directors decided to consider dividend payment for 9 months of 2024 in order to maintain balance between reinvesting funds in the Company's capital, ensuring financial stability and paying dividends".
Polyus
Polyus is the fourth largest gold producer in the world in terms of production and has one of the world's largest gold reserves. The Company has the lowest production costs among major global gold producers. Its principal operations are located in Siberia and the Russian Far East: Krasnoyarsk, Irkutsk and Magadan regions and the Republic of Sakha (Yakutia).
Investor and Media contact
Capital Markets Department +7 (495) 641 33 77
ir@polyus.com
Forward-looking statements
This announcement may contain "forward-looking statements" concerning Polyus and/or Polyus group. Generally, the words "will", "may", "should", "could", "would", "can", "continue", "opportunity", "believes", "expects", "intends", "anticipates", "estimates" or similar expressions identify forward-looking statements. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Forward-looking statements include statements relating to future capital expenditures and business and management strategies and the expansion and growth of Polyus' and/or Polyus group's operations. Many of these risks and uncertainties relate to factors that are beyond Polyus' and/or Polyus group's ability to control or estimate precisely and therefore undue reliance should not be placed on such statements which speak only as at the date of this announcement. Polyus and/or any Polyus group company assumes no obligation in respect of, and does not intend to update, these forward-looking statements, except as required pursuant to applicable law.
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