OREANDA-NEWS. OJSC Polyus Gold (RTS, MICEX and LSE - PLZL), Russia’s leading gold producer, today announced that the Board of Directors approved the Regulations for Polyus Gold’s dividend policy.

In accordance with the approved Regulations, OJSC Polyus Gold aims to pay dividends of up to 25% of the net profit calculated in accordance with International Financial Reporting Standards (IFRS). In developing recommendations for the dividend on shares, and the corresponding net profit allocated for this dividend payment, the Company’s Board of Directors will take into the account the limitations imposed by the needs to finance its production development and investment projects, as well as its needs to manage the Company’s debt and the requirements of the Russian tax legislation. The dividends will be paid out of Polyus Gold profit after tax (net profit) calculated according to the Company’s accounting statements prepared in accordance with the requirements of the Russian statutory law (Russian Accounting Standards, or RAS).

The approval of the Regulations on dividend policy will allow Polyus Gold to fulfill some of the recommendations stipulated by the Corporate Conduct Code of Federal Service for Financial Markets (FSFM) of Russia, as well as to demonstrate its adherence to best practice corporate governance.

The Board of Directors also approved the option plan amounting to 9,5 million of paid ordinary shares of OJSC Polyus Gold. The option plan will become an integral part of the Company’s executives’ remuneration and motivation system.