Alrosa-Nyurba Pays Parent Company Alrosa Smaller Dividend
June 25, 09
Diamond miner Alrosa-Nyurba will pay its parent company Alrosa 1.84 billion rubles ($58.74 million) in dividends for 2008, according to an Interfax report.
The company said its shareholders voted to pay 500 rubles ($16) per share for a total of 400 million rubles ($12.72 million) to all shareholders for the fourth quarter of 2008. This amount comes on top of the 1.7 billion rubles ($54 million) in interim dividends paid for the first three quarters of the financial year.
Most of the dividend will be paid to Alrosa, which owns 88.28 percent of Alrosa-Nyurba.
Alrosa-Nyurba posted a net profit of 2.211 billion rubles ($70.3 million) in 2008. It mined $538.493 million in diamonds in 2008, down slightly from $559.581 million in 2007. Sales totaled $609 million after prices fell 10.1 percent last year, the company said in a report.