14 OCTOBER 2015www.bdlive.co.za
UC Rusal approves first dividend payout
Edited by : AL CIRCLE
1 min read
Shares in United Company Rusal, the world’s biggest aluminium producer last year, rose in Hong Kong on Tuesday, October 13, after approving its first-ever dividend payment, even as commodity producers grapple with a rout in prices.
The company, controlled by Russian billionaire and president Oleg Deripaska, planned to pay an interim dividend of $0.016 a share in November, it said in a statement. Rusal has not made a payout to shareholders since going public in Hong Kong in 2010.
Rusal rose as much as 2.1% to HK$3.42 in Hong Kong, trimming its decline this year to 35%. Aluminium for delivery in three months was little changed at $1,593 a metric ton on the London Metal Exchange and is trading at less than half its July 2008 peak.
A decision to issue a payout to shareholders comes as companies, including Glencore and Vale halt or lower dividend payments amid weaker prices. Alcoa, the biggest aluminium producer in the US, announced in September it planned to split into two listed groups as the commodities crunch reshapes the sector.
The company, controlled by Russian billionaire and president Oleg Deripaska, planned to pay an interim dividend of $0.016 a share in November, it said in a statement. Rusal has not made a payout to shareholders since going public in Hong Kong in 2010.
Rusal rose as much as 2.1% to HK$3.42 in Hong Kong, trimming its decline this year to 35%. Aluminium for delivery in three months was little changed at $1,593 a metric ton on the London Metal Exchange and is trading at less than half its July 2008 peak.
A decision to issue a payout to shareholders comes as companies, including Glencore and Vale halt or lower dividend payments amid weaker prices. Alcoa, the biggest aluminium producer in the US, announced in September it planned to split into two listed groups as the commodities crunch reshapes the sector.
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