U.S. sanctions, imposed on Rusal in early April, threaten the payment of dividends by Norilsk Nickel of some $434 million.
According to a recent position of OFAC, payment of dividends to an entity from the sanctions list will result in the secondary sanctions to the payer.
Nornickel Board of Directors recommended the annual meeting of the shareholders to set the final dividends for 2017 at 96.2 billion rubles (some $1.56 billion). Taking into account interim dividends for H1 2017 ($600 million), the total volume of dividends for 2017 will reach $2.16 billion.
Interros, the largest Nornickel shareholder, will get $593 million, and Rusal – $434 million. (Ukrainian metal)