At a meeting held on October 25 NLMK Group’s Board of Directors recommended the company’s shareholders approve payment of Q3 dividends of 6.04 rubles per share at the upcoming Extraordinary General Shareholder Meeting (EGM), which would be held on December 21.
The dividends are equivalent to 86% of the company’s free cash flow based on its IFRS consolidated results for Q3. Q3 dividend yield will total 14%.
Taking into account dividends accrued in Q1 and Q2, the January-September dividends will total approximately 100% of the company’s free cash flow for the corresponding period.
The Board of Directors also recommended that shareholders set the date upon which the shareholders entitled to Q3 dividends would be determined as January 9, 2019.
The list of persons entitled to participate at the EGM will be compiled as of November 26.
Previously, at the Extraordinary General Shareholder Meeting held on September 28 NLMK shareholders approved the payment of Q2 dividends of 5.24 rubles per share.
Aggregate Q1 and Q2 dividends amounted to 10.97 rubles per share. (NLMK/Ukrainian metal)