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Novolipetsk Steel

November 17, 2016

NLMK Board of directors reccomends dividends for 3Q 2016

At a meeting held on 17 November 2016, NLMK Group’s Board of Directors recommended NLMK shareholders approve payment of 3Q’16 dividends at the upcoming Extraordinary General Shareholder Meeting (EGM) which will be held on 23 December 2016.

NLMK Group’s Board of Directors recommended NLMK shareholders approve 3Q’16 dividends of RUB 21,755 m, or RUB 3.63 per share, which is equivalent to 87% of NLMK Group’s net profit or 71% of the Company’s free cash flow based on its IFRS consolidated results for 3Q’16.

9M’16 dividends will amount to RUB 35,000 m, which is equivalent to 86% of NLMK Group’s net profit or 60% of the Company’s free cash flow based on its 9M’16 IFRS consolidated results.

Dividend yield * on 3Q’16 dividends will total 9.7%.

The list of persons entitled to participate at the EGM will be formed on the basis of the NLMK Shareholder Register as of 28 November 2016.

NLMK Board of Directors has also recommended that the shareholders set the date upon which the shareholders entitled to 3Q’16 dividends will be determined as 09 January 2017.

For more information about NLMK Group’s dividend policy please go to NLMK’ssite.

For more information about dividend yield please follow the link.

* Dividend yield is calculated as the sum of dividends for the period, divided by the sum of the company’s market capitalization on the last day of the relevant period, y-o-y.

 

 

 

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