Russia's Polymetal to consider special dividend in Dec-CEO

MOSCOW, Oct 3 (Reuters) - Russian precious metals miner Polymetal is likely to discuss in December whether to pay a special dividend, Chief Executive Vitaly Nesis said on Wednesday.

The company, which joined London's FTSE 100 index last year, has a policy of paying a dividend of 20 percent of net earnings if the ratio for net debt to adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) is below 1.75.

Net debt in the first half of 2012 stood at $1 billion while adjusted EBITDA rose to $380 million.

"The special dividend payout is likely to be discussed in December," Nesis told reporters at mining forum Minex in Moscow.

Polymetal, controlled by Russian businessmen Nesis and Alexander Mamut, alongside Czech private equity investor PPF, paid dividend of $0.20 per ordinary share for 2011.

(Reporting by Andrey Kuzmin; Writing by Polina Devitt; Editing by David Cowell)

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