The board of Norilsk Nickel recommended a dividend of 196 rubles ($6.17) per share for 2011, up 8.9 percent on last year.
The dividend is to be approved at the company's annual shareholder meeting on June 29, Norilsk said. The record date was set for May 24.
Last year Norilsk recommended a dividend of 180 rubles per share. The company expects to report a net profit of about $5 billion for 2011, broadly flat on the previous year, Norilsk chief executive Vladimir Strzhalkovsky said in January.