MOSCOW, April 7 Russia's Norilsk Nickel
, the world's top nickel and palladium producer, can
stick to its 2013 dividend target despite reporting a 64-percent
drop in net profit for last year, its deputy chief executive
said on Monday.
Norilsk, part owned by Russian tycoon Vladimir Potanin and
aluminium giant Rusal, said earlier its net profit
dropped to $765 million last year, although before the non-cash
write-offs it would have been down just 15 percent to $2.6
"The 2013 full-year dividend will depend on shareholders'
decision, but the company is able to continue to stick to the
dividend target," Sergey Malyshev, Norilsk deputy chief
executive, told reporters during a conference call.
"There is no reason to review (the dividend targets) as of
now, everything (is) in line with the plan," he added.
The firm has a dividend policy, approved by its shareholders
last year, which states that its dividend target for 2013-14
should be not less than $2 billion per year. The firm had
previously returned to shareholders $1.1 billion in dividends
for the first nine months of 2013.
Norilsk's dividend payments support all shareholders,
especially loss-making and indebted aluminium Rusal, which is in
talks with lenders to amend the terms of syndicated facilities
covering $3.7 billion of debt.
(Reporting by Polina Devitt and Andrey Kuzmin; Editing by Mark