Dividends of PJSC ALROSA-Nyurba 2021: size and timing of the next payment

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Today I’ll tell you what dividends Alrosa Nyurba pays, whether it’s worth buying shares based on income from them, what are the advantages and disadvantages of such payments.

And once again I would like to draw your attention to the fact that it has its own stock quotes on the stock exchange; they should not be confused with the securities of the parent company.

Securities data

Exchange rate dynamics for all time

Trading of ordinary shares of Alrosa Nyurba on the MICEX exchange began on December 8, 2011. The price at that time was a considerable amount - 32,550 rubles for one paper. It must be said right away that since then Alrosa Nyurb shares have not been worth that much; quotes have always been higher than the initial placement levels.

Interestingly, the securities reached their historical maximum - 214,500 rubles - in December 2021, but it was this month that gave rise to a long-term downward trend. By June 2021, Alrosa Nyurba shares returned to the level of 125 thousand. Threefold growth in a year and a half, and an 80% drop in six months.

The next five months of 2021 seemed to return the securities to growth; in November their price reached 178,000; this was not a new trend, but a long rebound. November closed at 163,000 rubles per share of Alrosa Nyurba, and then the quotes went down.

The fall stopped in March 2021, when the price reached 55,400 rubles. In June and July of this year it reached 99,000, but did not reach the level of 100 thousand.

At the moment, you can see on a real-time chart how much Alrosa Nyurba shares cost.

About company

In the mid-90s, new kimberlite pipes were discovered in Yakutia, with diamond placers next to them.

The main one decided to create a subsidiary to develop and develop new fields. On August 15, 1997, OJSC ALROSA-Nyurba received a registration certificate and began developing the Botoubinskaya and Nyurbinskaya kimberlite pipes.

The kimberlite pipe itself is a trace of the breakthrough of magma from the Earth’s mantle. Igneous rocks contain various minerals, including diamonds, formed under conditions of enormous pressure and temperature in the interior of our planet. There are very few areas with kimberlite pipes on Earth - in India, South Africa and Yakutia.

Kimberlite pipes are destroyed as a result of geological processes, and placer diamonds may be located next to them.

Alrosa Nyurba is developing both pipes and deep-seated diamond placers.

The Nyurba mining and processing plant was created in 2000, and industrial diamond mining dates back to 2002. In March 2015, industrial diamond mining began at the Botoubinskaya kimberlite pipe.

The deposits themselves consist of two quarries where rock is mined, and then diamonds are extracted from it using beneficiation and washing. The enrichment process takes place at permanent factory No. 16 and seasonal factory No. 15.

The production volume is 20% of the all-Russian and 5% of the world.

Production of the company

Industrial and jewelry diamonds. This is the only type of Alrosa Nyurba product.

Main shareholders

The shares are distributed as follows:

1. 87.48% of Alrosa Nyurba shares belong to the parent company PJSC Alrosa.
2. 10% of the shares are owned by JSC RIK Plus, which is controlled by the government of the Republic of Sakha-Yakutia.
3. 2.523% of ordinary shares are in the hands of minority shareholders.

On July 10, 2021, the board of directors of the parent company decided to buy back 10% of the shares and bring its share to 97.48%. That is, only those securities that are traded on the stock exchange will remain in free circulation.

And here I would like to draw attention to the following fact: the ticker of Alrosa Nyurba on the exchange is ALNU, and the parent company is ALRS. The price of the securities is also different, an ordinary share of Alrosa Nyurba costs 80 thousand, the paper of Alrosa PJSC costs 75 rubles.

It should be taken into account that the prices are given at the time of writing, but it is clear that the quotes are unlikely to be equal even in the foreseeable future. When trading on the stock exchange, look at the tickers of the securities, then there will be no confusion.

Key figure and her role

Alrosa Nyurba is a structural division of the parent company. All preparatory work for mining, as well as sorting and marketing of diamonds is the responsibility of the parent company.

Decisions for Alrosa Nyurba are made by the board of directors of PJSC Alrosa. The duties of the subsidiary’s executive director are performed by N.S. Petrova.

The head of PJSC Alrosa is Sergei Sergeevich Ivanov, the son of the former head of the presidential administration. The chapter's challenge is to maintain the pace of diamond production in such a narrow and extremely monopolized market.

Affiliated companies

Alrosa Nyurba does not have those.

Yakutia will not receive dividends from ALROSA and ALROSA-Nyurba

When ALROSA divides the money, the budget of Yakutia can wait. No one in the republic objects to this.

Yakutia will not receive dividends from ALROSA-Nyurba

On May 18, 2021, the Board of Directors decided to recommend to the General Meeting of Shareholders not to pay dividends based on the results of work for the fourth quarter of 2021. The decision was published on the ALROSA-Nyurba website:

2.1. Taking into account the decision of the extraordinary general meeting of shareholders of the Company (minutes dated December 11, 2017) on the payment (declaration) of dividends based on the results of nine months of 2021, we recommend that the annual general meeting of shareholders approve the following procedure for the distribution of profit based on the results of 2021 in the amount of 12,796,066 thousand rubles. : • for payment of dividends – 9,500,000 thousand rubles. (dividends paid for the first nine months of 2021) • financing of capital investments - 302,693 thousand rubles, including: geological exploration (exploration assets) - 261,756 thousand rubles. construction of overhead line-6KV from substation 35/6KV in the village of Nakyn – 40,937 thousand rubles; • leave undistributed – 2,993,373 thousand rubles. 2.2. Recommend that the annual general meeting of shareholders decide not to pay (not declare) dividends on outstanding shares based on the results of production and economic activities for the fourth quarter of 2017.

And rest assured, the general meeting of shareholders will decide not to pay dividends.

Let me remind you that last year dividends based on the results of work for the fourth quarter of 2021 amounted to just over 4 billion rubles. or 5008.75 rub. per share. In total, based on the results of work for 2021, about 22.5 billion rubles , of which 2.25 billion rubles. went to the budget of Yakutia.

But why was such a decision suddenly made - ALROSA-Nyurba performed poorly last year? And now the company has no money?

No, ALROSA-Nyurba performed well in 2021. The results are slightly worse than in 2021, but not enough to make a loss. Nyurba residents have money. Only they lend them to the parent company - the big ALROSA.

On April 26, 2021, the Board of Directors of ALROSA-Nyurba decided to loan ALROSA 15 billion rubles. As the document says:

“The Lender undertakes to provide a targeted loan to the Borrower, and the Borrower undertakes to return the funds received and pay interest on them. To provide a targeted loan, the Lender opens a short-term revolving line for the Borrower with a set debt limit. The provision of funds is made by the Lender in tranches (amounts). Each tranche is provided to the Borrower for a period of 180 (one hundred and eighty) days within the validity period of the line. The purpose of the loan is to replenish the Borrower’s working capital for current and investment activities. The debt limit is no more than 15,000,000,000 (fifteen billion) rubles. The interest rate is equal to the key rate of the Bank of Russia. The expiration date of the line and final repayment of principal and accrued interest is December 28, 2021.”

Now watch your hands.

On March 21, 2021, the Supervisory Board of ALROSA considered it appropriate and recommended increasing the share in Alrosa-Nyurba to 97.48% by purchasing a 10% stake from Yakutia. This package is estimated at approximately 12 billion rubles.

As ALROSA CFO Alexey Filippovsky said at a telephone conference in May, the company expects that the transaction to purchase shares from Yakutia will take place before the end of the 2nd quarter of 2018.

On April 26, ALROSA-Nyurba opened a credit line for ALROSA for 15 billion rubles; on May 18, it decided not to pay dividends and left almost 3 billion rubles of profit undistributed.

It turns out a funny picture: ALROSA-Nyurba does not pay dividends to shareholders, but gives away 15 billion rubles. big ALROSA. Shareholders will not see the money, including Yakutia. In turn, ALROSA, using the money received from ALROSA-Nyurba, buys 10% of the shares of the same ALROSA-Nyurba from another shareholder - the Republic of Sakha (Yakutia). For 12 billion rubles.

In fact, without spending a penny of the company's own money, ALROSA managers purchase an asset using the money of the asset itself. That is, partly with Yakut money, they bought its own property from Yakutia.

How's the scheme?

Yakutia will not receive special dividends from ALROSA

But maybe ALROSA itself has no money, and therefore the company’s managers are simply forced to resort to such tricks? Actually, no. ALROSA is doing well with money – both production and sales are going very well. Yegor Borisov stated at the beginning of May 2021 :

“According to the preliminary results of 2021, ALROSA showed record production volumes - 36.9 million carats, sales volumes also did not decrease.”

Moreover, in February 1018, ALROSA sold its gas assets to Novatek for 30.3 billion rubles. And as ALROSA top managers reported at a teleconference, the company does not plan to pay special dividends to shareholders from the transaction:

“We do not expect that there will be special dividends based on the results of the sale of gas assets. In 2021, anyway.”

Information: ALROSA shareholders are: the Russian Federation represented by the Federal Property Management Agency (33.02%), the Republic of Sakha (Yakutia) - 25%, uluses (districts) of Yakutia - 8%. Almost 34% of shares are in free float.

The money went to the current needs of the company. It was previously reported that after the sale of gas assets, ALROSA repaid ahead of schedule a bank loan in the amount of $250 million, as well as part of a bank loan for $200 million, attracted from Rosbank and Raiffeisenbank in December 2017.

Yakut agricultural enterprises will go under the hammer

In addition to increasing revenues, the company is pursuing an extensive cost-cutting program and is divesting non-core assets. So in 2018, ALROSA management plans to receive “several million dollars” within a year as a result of the implementation of this program, Alexey Filippovsky .

“We expect the sale of the woodworking business, exit from a number of small agricultural assets, exit from the minority stake in Yakutia Railways,” he said.

ALROSA has small agricultural assets - the Novy state farm and the agricultural enterprises of the subsidiary group Almazy Anabara. Let me remind you that this group currently owns Kone, Olekma’s Pantry and Khatassky Pig Farm. In addition, Almazy Anabara also owns a woodworking business - the timber processing enterprise ALMAS LLC. The Novy state farm will not be sold this year, which means that Alexey Filippovsky was talking about the sale of agricultural enterprises and the Almazov Anabara forestry complex.

For several million dollars, these enterprises in Yakutia, in my opinion, can only be bought by the budget or state enterprises like RIK Plus and the like. I don’t see anyone else interested, except the founder of Almazov Anabar, Matvey Evseev. But Evseev now hardly has “several million dollars” spare, and besides, he has already begun to independently develop the agricultural business in his private enterprise.

Given the current financial situation in the republic, there are unlikely to be private independent investors not connected with the budget who are willing to risk that kind of money.

All of the above decisions were made with the full approval of the ALROSA Supervisory Board and the largest shareholders. The Supervisory Board from the Republic of Sakha (Yakutia) includes and is obliged to protect the interests of the republic: Egor Borisov, Evgenia Grigorieva, Georgy Basharin, Galina Danchikova, Sergey Mestnikov and, as an independent director, Valentina Lemesheva .

On all issues, the Yakut delegation voted unanimously “for” .

Vladimir Nifontov.

To be continued.

Plans

Maintain the level of production at the current level and, if possible, increase it using the reserves of new open-pit mines. True, a sharp increase in supply in a low-liquid market can reduce the cost of the final product, so it is important to maintain the proportions of production and demand for diamonds.

Compliance with environmental standards during the development of quarries and kimberlite pipes is a very important and pressing task, and a portion of the profits is annually allocated for these purposes.

Dividend statistics

The company pays dividends.

You can find out about the latest payments on Alrosa Nyurba shares and their size from the table.

Interesting facts about the company

Alrosa Nyurba's securities are traded on the stock exchange on a par with shares of the parent corporation, and the cost is hundreds of times higher.

Dividend policy

Alrosa Nyurba distributes dividends based on the results of 9 months and the calendar year. That is, only two payments to shareholders annually.

20% of Alrosa Nyurba’s net profit according to Russian accounting standards (RAS) is spent on the payment. But very often all free money was spent on bonuses for investors.

This is a very good policy in relation to shareholders, but it is worth remembering that the parent company consolidates more than 97% of Alrosa Nyurba shares in its hands and may stop paying dividends altogether.

Where and how to buy or sell shares today

You can buy shares on the stock exchange with the help of a broker, from banks or specific owners.

Through a Russian broker

Among brokers, it is better to choose the following companies.

Reliable Russian brokers

Directly from a company, individual or firm

When purchasing shares without intermediaries, you must remember about the legal support of the transaction and its correct execution.

How to buy shares and receive dividends

Securities can be purchased on the stock exchange with the help of intermediaries called brokers. For their services they take a percentage of the transaction, usually tenths and hundredths of a percent.

To receive bonuses, you must be the owner of Alrosa Nyurba shares at the time the register is closed. The closing date is announced several months before the event itself.

It should be taken into account that the next day the quotes fall approximately by the amount of payments. But usually after several days, or at most weeks, this price gap is reduced or completely closed. Therefore, there is no need to rush to sell Alrosa Nyurba shares after the register is closed.

Best brokers

Among the most reliable brokers, it is better to choose well-known companies that offer all types of securities trading services. Such brokers provide access to different markets and act as a tax agent. They take over all activities related to account maintenance, receiving dividends and tax payments.

To purchase securities, it is better to choose the following brokers.

Reliable Russian brokers

Warning about Forex and BO

Expert opinion

Vladimir Silchenko

Private investor, stock market expert and author of the Capitalist blog

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Forex and binary options (BO) have nothing to do with stocks and dividend payments. These are scam companies designed to deceive gullible investors. These financial instruments can be compared to roulette in a casino, where no winnings are guaranteed, and their mathematical probability tends to zero.

What affects the stock price

The general situation on world markets, the growth of consumer demand, especially in the luxury segment, reports on the production and financial activities of the company itself, as well as its competitors - this is what affects the price of shares.

For example, a De Beers report on growth in diamond production could negatively impact Russian companies, as it could indicate an oversupply and a drop in the price of the mineral. Since the demand for jewelry and industrial diamonds is not growing at such a rapid pace, all manufacturers are trying to negotiate and not force production.

Company prospects

Good ones. This is due to the fact that Alrosa Nyurba is producing at new fields where the resource base has not been exhausted. There will be enough diamonds for many years of development.

Analytics and forecast for the security

The demand for the company's final products is very sensitive to the market and general economic situation. Any drop in global markets, slowdown in the economies of leading countries—the price of diamonds (and, accordingly, the shares of producers) changes significantly.

On the daily charts of Alrosa Nyurb, after the double top on 06/18/2019 and 07/01/2019, a stable downward trend is observed.

Prices from the level of 95,000 - 97,000 fell sharply within two trading weeks to the level of 78,000, and then continued to decline with little volatility to the level of 76,000. Over the month, quotes lost more than 20%. This downward trend has not yet been broken.

The hourly charts show a surge to 80,000 per share in early August. But further movement of quotes suggests that this was a normal rebound.

Despite the announcement of fairly large dividends, the planned high profits are still being bought weakly.

Revenue in 2021 reached 44.088 billion rubles, which gave an increase of 8%, and net profit amounted to 16.631 billion rubles. or 30% compared to the previous year.

In the first half of 2021, sales decreased compared to the same period in 2021: from 13,009,081 billion rubles to 12,175,812 billion.

Analyst estimates vary from stock growth of 2-5% to fall from 2 to 20%. The last figure is too pessimistic, since the company has stable production with large diamond reserves, and the global economic situation hardly suggests a large drop in demand.

Alternative in this industry

In Russia, all mining, processing and sale of diamonds is concentrated in the hands of the mother company. Competitors on the global market include De Beers, Australian Rio Tinto and . The main one in this trinity is De Beers, which controls 40% of the world diamond market.