Moscow: ALROSA, the world’s largest diamond mining company, said in a statement released on Thursday that it is not going to increase dividend payments up to 75%.
"The reports published in a number of mass media about ALROSA's alleged initiative to increase dividend payments up to 75% in 2017, as well as the information about its intention to discuss this issue with the Government of the Russian Federation, are not true," the company said, citing its President Sergey Ivanov who informed, that the decision on the amount of dividend payments is made by the annual General Meeting of Shareholders on the basis of recommendations given by the company’s Supervisory Board and that ALROSA will notify the public about such decisions, if they are taken, in due time.
ALROSA paid 50 percent of its IFRS net profit as dividends for 2015.
