PJSC Magnitogorsk Iron & Steel Works announced that on February 8 the company’s Board of Directors recommended that the Annual General Meeting of shareholders approve a dividend of 1.398 rubles (before taxes) per share for the fourth quarter of 2018 on MMK’s issued ordinary registered shares.
The dividend will represent the total of approximately $239 million at the current exchange rate, which equals to 100% of the company’s FCF for Q4 2018.
As a result, for the FY 2018 the company will distribute dividends equal to 100% of its generated FCF, which totaled $1,027 million.
2019 AGM date will be set at the Board of Directors meeting scheduled on March 1. (MMK/Ukrainian metal)
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