The annual general shareholders meeting of Norilsk Nickel, the world’s largest producer of palladium and one of the largest producers of nickel, platinum and copper, approved the final dividends for 2018 at a rate of 792 rubles ($12.25) per ordinary share, or about $1.9 billion in total.
In addition to the interim dividends of $1.8 billion already set aside for the first six months of 2018, it allots a record payout of $3.7 billion to shareholders and shows that melting of nickel, copper, platinum, palladium and cobalt is a very profitable business.
Nornickel paid $1.23 billion in dividends in 2016. Its board of directors recommended a total dividend distribution of $2.16 billion for 2017. With $3.7 billion in 2018, payouts have tripled over the last three years.
As Nornickel brands itself, it is the world’s largest producer of both nickel and palladium. With mining and metallurgical enterprises in the Arctic cities of Zapolyarny, Nikel and Monchegorsk, Nornickel is also the world’s largest non-petroleum industrial company operating north of the Arctic Circle in terms of revenue.
In 2018, Nornickel accounted for 0.7 percent of Russia’s GDP, 2.6 percent of the national industrial output and 2.6 percent of Russia’s exports.