Norilsk Nickel (MNOD.L, NILSY), one of the world’s largest nickel and PGM producers, recently held its shareholders meeting to decide on the dividend. As expected, the shareholders approved the dividend proposal which means Norilsk will pay an interim dividend of 1,523.17 RUB per share based on the financial results in the first nine months of the year.
Norilsk is currently trading at 23,300 RUB/share in Moscow, which means the (interim) dividend proposal represents a yield of 6.53%. As the Moscow exchange isn’t easily accessible through most brokers, the GDR and ADR listings in respectively London and the USA are helpful. Keep in mind 1 GDR/ADR represents 0.1 underlying share which means the dividend per GDR/ADR will be 152.317 RUB which, at the current exchange rate of approximately 75.3 RUB per USD represents a dividend of almost exactly US$2/share. January 14th has been established as the record date.
Disclosure: The author has no position in Norilsk Nickel. Please read our disclaimer.
