ALROSA Reports $2.2B Profit For 2016, Pays $1.12B In Dividends
Russian state-controlled diamond miner ALROSA reported a net profit of RUB 131.4 billion ($2.2 billion) for 2016. Half of this, or RUB 65.77 billion ($1.12 billion) is being paid out as dividend to its shareholders, which include the Russian government and local governments in the Yakutia region. A 10.9 percent stake in the company was sold to private parties in July 2016 to help the Russian government tide over a budgetary shortfall.
Market rumours of a complete privatization of the miner were scotched when then ALROSA chief executive Andrey Zharkov ruled out any further stake sale in 2017.
The 2016 dividend is four times the amount ALROSA paid out in 2015.