On November 13 the Board of Directors of MMK approved a new version of the company’s dividend policy.
In line with the new dividend policy, the Board of Directors of MMK will now be guided by the following established principles when making recommendations on dividend payments:
– Тhe amount allocated for dividend payments will usually be at least 100% of free cash flow, calculated on the basis of MMK’s consolidated financial statements and in accordance with IFRS, provided that the net debt/EBITDA ratio calculated according to the company’s consolidated financial statements is below 1.0x.
– If the net debt/EBITDA ratio exceeds 1.0x, the amount allocated for dividend payments will usually be at least 50% of free cash flow, calculated on the basis of MMK’s consolidated financial statements in accordance with IFRS.
According to the new dividend policy, MMK will make annual dividend payments and will strive to pay dividends on a quarterly basis, provided that the company’s financial position is stable. (MMK/Ukrainian metal)