Norilsk Nickel Board does not discuss dividends for the first half of 2024 so far – Business & Economy

MOSCOW, October 31. /TASS/. Norilsk Nickel management has not yet approached the company’s Board of Directors with a proposal to consider dividends for the first six months of 2024 and the Board of Directors is not exploring this topic so far, spokesperson for the Russian mining company said. and metal company Andrey Bugrov to TASS on the sidelines of the Moscow Exchange forum.

“When management will come up with a certain proposal. The Board of Directors is not considering (this issue),” Bugrov said, responding to a question when Norilsk Nickel’s Board of Directors could assess this issue.

The company’s adjusted free cash flow at the end of the first half of 2024 was minus $159 million. The company’s management reiterated that it wants to consider free cash flow as the basis for the dividend payment.

Norilsk Nickel’s net profit fell 23% to $829 million, according to International Financial Reporting Standards, from $1.07 billion a year earlier in January-June 2024. EBITDA fell 30% to $2.35 billion.