The shareholders of Magnitogorsk Iron and Steel Works (MMK) have approved July-September 2019 dividends at 1.65 rubles per share, the company said.
“A decision to pay dividends for the third quarter of the reporting year 2019 in the amount of 1.65 rubles per common share (tax included) was voted by the majority,” the statement said.
The shareholder register will close on January 15.
The total payout will amount to 18.438 billion rubles or 100% of free cash flow for the reporting period.
The company has already paid $260 million in dividends for January-March 2019, or 1.488 rubles per share, or 100% of FCF, and 7.71 billion rubles or 0.69 rubles per share for April-June 2019, 200% of FCF. (MMK/Ukrainian metal)