The Board of Directors of the Russian diamond company ALROSA invited shareholders to vote for the refusal to receive dividends for 2021 at the upcoming general meeting.
ALROSA reported a net profit of 91.32 billion rubles ($1.5 billion) in 2021, almost three times the profit of 32.25 billion rubles ($527.7 million) in 2020 year. Dividends for the first half of 2021 amounted to RUB 64.7 billion ($1.04 billion), exceeding 70%. net profit of the company in 2021. The final dividend for 2020 amounted to 70.3 billion rubles ($1.15 billion).
However, the company faces severe economic sanctions imposed by the West against Russia for its special military operation in Ukraine.
April 7, 2022, the US Treasury announced sanctions against the state-owned Alrosa, the world's largest diamond mining company. Alrosa, already covered by Directive 3, accounts for about 28% of global diamond production.
In general, the Company is under severe economic sanctions imposed by the West against Russia.
