At the Extraordinary General Shareholder Meeting (EGM) held on December 23, NLMK shareholders approved of payment of Q3 dividends of RUB 3.63 per share, equivalent to 93% of NLMK Group’s net profit or 75% of the company’s free cash flow based on its Q3 IFRS consolidated results.
The date upon which the shareholders entitled to Q3 dividends would be determined was set as January 9, 2017.
Dividend yield on Q3 dividends will total 10%.
January-September dividends will amount to RUB 5.84 per share, equivalent to 89% of NLMK Group’s net profit or 62% of the company’s free cash flow based on its 9 months consolidated results.
At the meeting, the group’s shareholders also adopted revised versions of the company’s statutory documents, namely the NLMK Charter, Regulations on the General Shareholders’ Meeting, Regulations on the Board of Directors, and Regulations on the Management Board.
The revised versions are in line with the amendments introduced to corporate legislation, particularly those that will come into effect from January 1, 2017. They also take into account the provisions of the Corporate Governance Code recommended by the Bank of Russia on April 10, 2014. (NLMK/Ukrainian metal)
