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Board of directors of Polymetal to reconsider dividend policy, to share update in May

"As yet, the company has not restored its access to major sources of debt funding and, in the light of this, the Board considers that it would not be prudent to pay dividends for the full year 2023," it said

MOSCOW, March 15. /TASS/. The board of directors of Polymetal will reconsider its dividend policy and share an update in May, with dividends for 2023 not proposed, the company said in a statement on Monday.

"No dividend will be proposed for the full year 2023. Following the recent completion of the divestment of the Russian business, the Board will actively reconsider the dividend policy and intend to share an update in May this year," the statement reads.

"As yet, the Company has not restored its access to major sources of debt funding and, in the light of this, the Board considers that it would not be prudent to pay dividends for the full year 2023. This will allow the Group to maintain both strategic and operating flexibility. The Board will further consider the dividend, as described in Dividends and disposal section above," Senior Independent Non-Executive Director Yevgeny Konovalenko was quoted as saying.

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