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Norilsk Nickel's Dividend Payout 17% Higher for 2013

Russia's Norilsk Nickel, the world's largest producer of nickel and palladium, is paying dividends totaling 74 billion rubles ($2.15 billion) for 2013 — 17 percent higher than in 2012, Itar-Tass reported.   

The company set its final dividend for 2013 at 39 billion rubles ($1.15 billion) at its annual shareholders' meeting on Friday, having already paid interim dividends worth 35 billion rubles ($1 billion) in December.

The company paid out 63 billion rubles ($1.8 billion) in 2012, which was a record at the time.

Norilsk Nickel's net profit dropped 64 percent to $765 million last year, though before write-offs it would have been down just 15 percent at $2.6 billion, beating the average forecast of $2.3 billion given in a Reuters poll of analysts.

Norilsk Nickel's policy for 2013 and 2014 pledges dividends equal to 50 percent of the company's EBITDA, but never less that $2 billion per year.

See also:

Norilsk Nickel Negotiating $1Bln Financing for Copper Project

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