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Tuesday February 27, 12:19 AMNorilsk sees 2006 net profit, dividend up -reportMOSCOW, Feb 26 (Reuters) - The world's top nickel and palladium producer Norilsk Nickel may post a net profit made to International Financial Reporting Standards of $5 billion for 2006, Norilsk was quoted as saying on Monday.Interfax news agency quoted Deputy General Director Tav Morgan as telling a conference in Tampa, Florida, that the company could pay a dividend of $6 per share, based on this profit. Norilsk press office in Moscow declined to issue a comment before the board of directors announced these figures to shareholders. If the forecast proves to be true, the net profit last year will more than double from a net profit of $2.352 billion Norilsk posted in 2005. Norilsk paid a dividend of $3.59 per share for the full year of 2005. Norilsk has the policy of allocating at least 20-25 percent of its IFRS net profit for dividend payouts. Last year the payout exceeded 25 percent. One of Norilsk's two main owners, Mikhail Prokhorov, has announced his exit from Norilsk, offering to sell his stake worth more than $8 billion to his long-term business partner Vladimir Potanin, who will then own over 50 percent. |
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