At a meeting held on August 12, NLMK Group’s Board of Directors recommended NLMK shareholders to approve of payment of Q2 dividends at the upcoming Extraordinary General Shareholder Meeting (EGM) to be held on September 30.
NLMK Group’s Board of Directors recommended NLMK shareholders to approve of Q2 dividends of 6,473 million RUB, or 1.08 RUB per share, equivalent to 55% of NLMK Group’s net profit or 64% of the company’s free cash flow based on its IFRS consolidated results for Q2.
H1 2016 dividends amounted to 13,245 million RUB, equivalent to 84% of NLMK Group’s net profit or 47% of the company’s free cash flow based on its H1 IFRS consolidated results.
Dividend yield on Q2 dividends will total 7.5%.
The list of persons entitled to participate at the EGM is formed on the basis of the NLMK Shareholder Register as of September 5.
NLMK Board of Directors has also recommended that the shareholders set the date upon which the shareholders entitled to Q2 dividends will be determined as October 12. (NLMK/Ukrainian Metal)