Polyus Gold to Direct 20% of Net Profit for Dividends

Russia’s largest gold producer, London-listed Polyus Gold will direct at least 20 percent of its net profit for dividend payouts under the company’s new dividend policy, the firm said on Thursday.

A company’s official told Prime news agency that there was previously no unified dividend policy.

Polyus Gold’s board of directors recommended approving 2011 dividend payments worth of total $115.013 million or $0.041 per share in early April 2012.

The company’s net profit in 2011 jumped 57 percent compared with 2010 to $558 million to IFRS.

Headquartered in Moscow, Polyus Gold’s operating mines and development and exploration projects are located in five major gold mining regions in Russia – the Krasnoyarsk Territory and the Irkutsk Region in Siberia, the Far Eastern Magadan and Amur Regions, and the Republic of Sakha (Yakutia) in East Siberia.


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