Interros holding Russian tycoon Vladimir Potanin and aluminum giant UC RUSAL of tycoon Oleg Deripaska are not discussing any adjustments to the dividend policy of metals giant Norilsk Nickel, a source in Interros reported.
“There was a suggestion from Interros, but it did not satisfy some of Norilsk Nickel’s shareholders. The issue is not discussed now,” the source said.
Disputes around dividend payments of Norilsk Nickel started in 2008, when RUSAL became a shareholder of the company. RUSAL – as a company burdened with debts – wants consistent and high payments, while Potanin thinks that Norilsk Nickel should better spend the money on investment projects and development, so it should pay less dividends.
At the same time, Interros that owns 34.57% in Norilsk Nickel and RUSAL that owns 27.82% have previously reached a shareholder agreement. The agreement is in force until 2023 and it prohibits any shareholder from unilateral changes in the company’s dividend policy. (Prime/Ukrainian metal)