January 24, 2018 / 7:15 AM / in 9 months

Russia's Polymetal says Q4 revenue up 12 pct y/y

MOSCOW, Jan 24 (Reuters) - Russian gold and silver producer Polymetal said on Wednesday its fourth-quarter revenue rose 12 percent year-on-year to $586 million due to an increase in production and higher sales of gold.

The company, part-owned by businessman Alexander Nesis, also said that there will be no special dividend for 2017 as its free cash flow will be distributed to shareholders through the regular dividend at an increased pay-out ratio of 50 percent of underlying net income. (Reporting by Polina Devitt; editing by Maria Kiselyova)

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