At a meeting held on July 31 NLMK Group’s Board of Directors recommended the company’s shareholders approve payment of Q2 dividends of 5.24 rubles per share at the upcoming Extraordinary General Shareholder Meeting (EGM) to be held on September 28.
5.24 rubles per share is equivalent to approximately 100% of the company’s average free cash flow and net income based on its IFRS consolidated results for H1. Q2 dividend yield will total 14%.
The Board of Directors also recommended that shareholders set the date upon which the shareholders entitled to Q2 dividends would be determined as October 12.
The list of persons entitled to participate at the EGM will be compiled as of September 3.
Previously, at the Annual General Shareholder Meeting held on June 8 NLMK shareholders approved payment of Q1 dividends of 5.73 rubles per share.
Aggregate Q1 and Q2 dividends amount to 10.97 rubles per share. (NLMK/Ukrainian metal)