Russian gold mining company Seligdar has approved a new dividend policy designed to provide shareholders with more stable and transparent returns. The key change is a revised payout formula that eliminates the impact of non-cash asset revaluations and focuses on the company’s actual operating performance.
Under the previous policy, dividend payments could be influenced by accounting revaluations that sometimes generated substantial paper profits without corresponding cash flows. Going forward, the dividend base will be calculated using operating profit, less finance costs, corporate income tax, and changes in inventories, based on the company’s consolidated financial statements. The new approach is intended to make dividend payments more predictable and reflective of underlying business performance.
The board of directors has also established a clear payout benchmark. Seligdar plans to distribute at least 30% of the calculated dividend base for each reporting year. This minimum payout ratio provides investors with greater visibility regarding future shareholder returns.
Company President Alexander Khrushch said the updated policy is primarily aimed at protecting shareholder interests. By linking dividends to operating results instead of volatile accounting revaluations, the company expects to deliver more sustainable payouts while maintaining financial discipline. At the same time, Seligdar emphasized that the revised dividend policy will not affect its long-term investment program. The company continues to invest heavily in new projects and expects to double its production after 2030.
The updated dividend framework signals the maturity of Seligdar’s business model. By combining continued investment in growth with a transparent and cash-based dividend methodology, the company aims to offer shareholders more reliable returns while reducing the impact of accounting distortions.
Source: Seligdar
Image: @zol_sechenie
