The board of Norilsk Nickel has not yet discussed the dividends of the first half of 2024 – Business and economy

MOSCOW, October 31. /TASS/. The management of Norilsk Nickel 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 is not reviewing this point until now, the spokesperson of the Russian mining company told TASS and metals, Andrey Bugrov. on the sidelines of the Moscow Exchange forum.

“When the management will approach with a certain proposal. The board of directors does not consider (this issue),” Bugrov said, answering a question, when the board of directors of Norilsk Nickel could review this matter.

The company’s adjusted free cash flow was minus $159 million at the end of the first half of 2024. The company’s management has repeatedly said it wants to consider free cash flow as a basis for paying dividends.

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