Norilsk Nickel dividends for 9 months. Closing the register for receiving dividends on shares of PJSC MMC Norilsk Nickel. Operating margin of Norilsk Nickel
The Norilsk Nickel group of companies is the world's largest producer and supplier of rare and valuable metals. In 2017, Norilsk Nickel allocates 70.6 billion rubles to pay income to shareholders. based on the results of 2016 at the rate of 446.1 rubles. per share. Payments began on June 23, 2017.
PJSC MMC Norilsk Nickel is a global industrial leader in the production of rare and precious metals. The main share of production is occupied by nickel, palladium, as well as gold, platinum and silver. From the point of view of profitable attractiveness for shareholders, the metallurgical giant consistently holds a leading position among global corporations.
The history of the oldest mining and processing enterprise in this video:
How much dividends will Norilsk Nickel pay for 2016?
The Norilsk Nickel group of companies regularly pays not only annual dividends, but also interim income based on the results of work for six months and 9 months. In accordance with the “Regulations on Dividend Policy”, the amount of annual dividends cannot be less than 30% of the group’s consolidated net profit.
On June 9, 2017, the General Meeting of Shareholders of PJSC MMC Norilsk Nickel was held. Taking into account the recommendations of the board of directors, the meeting decided to announce the payment of dividend income on the company's ordinary shares.
Table 1. Terms and amount of payments
By the way, taking into account the payment of interim income on shares in 2016 based on the results of 9 months, the total amount of dividends per share amounted to 890.4 rubles.
How to receive dividends?
Cash (dividend income) can be received in the following order:
- To owners whose rights to shares are reflected in the register of shareholders of the company, payments are made through post offices or by bank transfer to the settlement accounts specified in the questionnaires of registered persons available to the registrar.
- If the rights to own shares are registered with a nominee shareholder, funds are paid through the nominee holder with whom the shareholder has entered into a corresponding agreement.
If for some reason the shareholder has not received the funds due to him, the right to claim payment is retained for three years from the date of declaration of dividends.
FYI: the registrar and registrar of PJSC MMC Norilsk Nickel is JSC Independent Registration Company. Shareholders are recommended to promptly notify the registrar of changes in details and personal data.
How to become a shareholder of Norilsk Nickel?
- Where to buy shares: PJSC Moscow Exchange MICEX - RTS.
- Security code: GMKN.
- How to buy: open a brokerage account with a broker (FINAM, BKS broker, ATON, Uralsib).
Dividend history of PJSC MMC Norilsk Nickel
Table 2. Dynamics of dividends on ordinary shares of PJSC MMC Norilsk Nickel (2012 – 2016)
| Period | Amount per 1 ordinary share (RUB) | Total amount of dividends (RUB billion) |
| 2016 | 446,1 | 70,6 |
| 2016 (9 months) | 444,3 | 70,3 |
| 2015 | 230,1 | 36,4 |
| 2015 (9 months) | 321,9 | 50,9 |
| 2015 (6 months) | 305,0 | 48,3 |
| 2014 | 670,0 | 106,0 |
| 2014 (9 months) | 762,3 | 120,6 |
| 2013 | 248,5 | 39,3 |
| 2013 (9 months) | 220,7 | 34,9 |
| 2012 | 400,8 | 63,4 |
In 2018, Norilsk Nickel paid dividends without delay, in the stated amount, and the share price remained stable. How interesting will it be to invest your capital for passive income in 2019 and how much did shareholders receive this year?
Investment attractiveness of Norilsk Nickel
The production occupies a leading position in the industry of processing metallurgical products and operates on the principle of a full cycle: from exploration to export of products not only within the country, but also abroad.
MMC Norilsk Nickel, in comparison with other metallurgists, maintains leadership in the industry in terms of dividend yield, because pays its investors a high percentage of remuneration.
Over the last 4 years of dividend history, the indicator has not fallen below 6%:
Income as a percentage is calculated using the formula: amount of dividends*100/share price at the time of payment.
In recent years dividend yield amounted to:
- 2014 - 11.8% or 1,010 rubles.
- 2015 - 13.1% or 1,296 rubles.
- 2016 - 6.1% or 674 rubles.
- 2017 - 7.4% or 670 rubles.
*Please note that amounts are excluding taxes.
Financial and production reporting remains at the level:
- Rich raw material base - provision of reserves for more than the next 30 years;
- Low cost of the production cycle;
- Leading positions in world markets: Norilsk Nickel has a wide sales network in Europe, Asia, China, America - covering the largest economic zones:
- Economic indicators are stable: at the end of 2017, EBIDTA margin was 44%.
EBITDA is an indicator that reflects the company's profit without taking into account mandatory payments. In simple words, it allows investors to assess how profitable production is without taking into account the impact of loans, taxes and deductions on depreciation.
EBITDA is the simplest indicator that helps to understand how attractive a company is from an investment point of view.
It is also important to know about it because it depends on its values what recommendations the Meeting of Shareholders will receive from the Board of Directors regarding dividends:
Norilsk Nickel's Dividend Policy Regulations do not directly say that EBIDTA may affect the very fact of assigning remuneration to shareholders, in contrast, for example, to the procedure. But the fact that EBITDA takes part in the calculation of final indicators closely links its effective value and investors' hopes for profit.
Payment of dividends on Norilsk Nickel shares in 2018
The closure of the register for the payment of profit on shares of MMC Norilsk Nickel occurs once every six months and at the end of 9 months. The dividend history says that payments can be made up to 3 times a year, but mostly twice.
Closing the Norilsk Nickel gas and condensate register
Procedure for calculating and distributing dividends standardized and no different from the regulations established by other large companies:- Publication of financial statements;
- Recommendations on the amount of payments from the Board of Directors;
- Coordination and approval at the General Meeting of Shareholders;
- Setting the date for closing the register (cut-off) - from 10 to 20 days from the date of the Meeting;
- Press release on the official website;
- Distribution of profits - transfer to a specific owner of shares according to the bank details specified in the register - up to 25 days, or to the balance of a broker who acts as an intermediary not only in the purchase/sale of securities, but also in the transfer of income - up to 10 days.
Norilsk Nickel dividends can be received if desired within three years after their announcement; after the expiration of the established period, the right to receive remuneration is canceled.
Amount and dates of dividend payments
Taking into account the policy of Norilsk Nickel when distributing profits, we received the closure of registers:
- July 2018 - payments for 2017 on ordinary shares - 5.33%. The transfer of income to shareholders was closed on August 21.
- October 2018 - payments for the first 9 months of the current term, also for JSC - 6.56%. Profit accrual continues until November 6th.
In 2018, earnings per share of Norilsk Nickel amounted to 1,383 rubles or 11.89%. The security on the day the register was closed was traded at just above 11 thousand rubles.
Dividend income is almost 40% higher than in the previous period. The cost of one Norilsk Nickel share as of October 2018 is about 10,900, which is 1 thousand rubles more than in the same period in 2017. Taking into account the increase in market value, the investor could make a significant profit.
Shares of MMC Norilsk Nickel belong to the stable line (unlike, for example, from):
- After payment of income, they quickly restore their price - in October 2018, more than half of the dividend gap was won back by the exchange rate the very next day.
- They react little to sanctions.
Moreover, Norilsk Nickel is expanding its sales market and entering into new trade relations (the latter with the German concern for the production of automobile batteries BASF).
All this makes Norilsk Nickel shares in 2018 an investment instrument with a high level of reliability, as far as can be judged in terms of stock market risks.
Dividend forecast for Norilsk Nickel for 2019
Considering the high production activity, the lack of pressure from sanctions and positive economic data for the first half of 2018, we can confidently assume that the percentage of payments in 2019 will not be lower than current indicators.
As of today, the latest news concerns consolidated financial statements for the first 6 months of the current period; according to accepted practice, the report for the full year is published next year, so final press releases should be expected in March 2019.
Economic data from the semi-annual report exceeded analysts' expectations:
- Revenue grew by 37%;
- EBIDTA is 77% higher than last year (!);
- Profitability for the same indicator increased to 53%;
- The net debt to EBITDA ratio fell by almost half;
- The investment rating was increased to Baa3, and the outlook was revised from stable to positive.
Considering that the securities are now at a low price level, a purchase with the expectation of dividends from MMC Norilsk Nickel in 2019 looks more than attractive.
How to buy shares of GKM Norilsk Nickel
You can buy shares of the company on the Moscow Exchange MICEX - RTS, code for searching in the list of securities - GMKN.
Individuals purchase securities through intermediaries - brokers with access to the stock exchange. The latter undertake to pay 13% income tax on dividends, which is charged to shareholders.
More details:Conclusion
Norilsk Nickel's dividends in 2018 were included in the list of the highest returns for shares in the manufacturing sector, and the current activities of the enterprise give investors confidence in increasing profits in the future. Currently, all dividend payment registers are closed. For 2019, it is planned to maintain payments at current levels, taking into account economic indicators.
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In the first hour of trading, the securities sank sharply, following the rest of the market, the negative does not leave our sites even despite the paused strengthening of the ruble and the rallying oil. Quotes are attracted by the 8700 mark, where this year’s lows are located. However, drawdowns below 8900 are still being quickly redeemed, giving the impression that investors are gaining long positions in the area below 9000.
Technically, there is still a possibility of a decline to the target of 8700, where this year's lows are located. However, the risks in ruble pairs are currently shifted towards the weakening of the national currency. Together with the redemption of drawdowns below 8900, this indirectly indicates an imminent price reversal towards growth. In the range of 8800-8950, you can begin to gain a long position, a stop can be placed below 8700. For more conservative investors, you can try to wait for a retest of the minimum levels. If a negative scenario develops, quotes may briefly (perhaps with one candle) drop to the area of 8500, where EMA 200 is located on the weekly chart; in the area of 8500-8700 you can safely buy.
In light of the released financial results for 2016, the long-term outlook for the stock is predominantly positive. A fairly high level of dividends (about 10% at current levels) will not allow the security to fall below 8700 for a long time.
The external background this morning is neutral. Oil falls 0.28% after rallying the day before. S&P500 futures are trading near zero. The dollar index is down 0.15% at 100.27. Asian indices are mostly in the green zone. After the close of the main trading session, futures for Norilsk Nickel shares added 0.02%. All this suggests that trading will open at yesterday's closing level.
Nearest resistance: 9000 / 9150 / 9500
Nearest support: 8700 / 8500- 8550 / 8000
Long term picture:
Since 2009, Norilsk Nickel shares have been in a large uptrend. It is visible only on charts with long time frames. Since 2015, when the securities rewrote their historical highs, a period of amplitude consolidation began in a new side corridor. Since the fall of 2016, we have seen an attempt to form an upward trend, which would have brought the securities out of the sideways trend, but then the situation deteriorated, and now a sideways trend is observed. The bulls needed to wait for the re-consolidation above 10100-10300 (in this case, according to the weekly “technique”, they would have to move the targets to the area of 11000 with subsequent growth potential to historical highs.), but this did not happen. The breakdown of important support at the level of 9150-9200 acted as a dangerous bearish signal. The stock is now consolidating in a narrow range between 8700-9150. The coming days will determine the future direction of movement. There is still a possibility of falling below 8700, but the drawdown will not last long. The long-term view on securities is preferably positive. A quick consolidation above 9260, where the EMA 100 is located on the weekly timeframe, will improve the long-term picture. A negative factor could be an excessive weakening of the dollar, which could reduce the level of dividends in ruble terms.
Gaivoronsky Sergey
BKS Express
