Nornickel's management, led by Potanin, has proposed to allocate $1.5 billion for dividends based on last year's results, RBC's sources close to the company's board of directors said. A year earlier, Nornickel paid out $6.3 billion to shareholders. This proposal was made at a meeting of the company's board of directors, which approved a $4.7 billion capital expenditure program that would boost investments by about $430 million. Company management justified the need for a substantial reduction in dividends thanks to the large-scale investment program.
Nornickel's management, led by Potanin, has proposed to allocate $1.5 billion for dividends based on last year's results, RBC's sources close to the company's board of directors said. A year earlier, Nornickel paid out $6.3 billion to shareholders. This proposal was made at a meeting of the company's board of directors, which approved a $4.7 billion capital expenditure program that would boost investments by about $430 million. Company management justified the need for a substantial reduction in dividends thanks to the large-scale investment program. 
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