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Novolipetsk Steel

December 23, 2016

NLMK shareholders approve 3Q 2016 dividends and adopt revised versions of statutory documents

At the Extraordinary General Shareholder Meeting (EGM) held on 23rd December, NLMK shareholders approved payment of 3Q’16 dividends of RUB 3.63 per share, which is equivalent to 93% of NLMK Group’s net profit or 75% of the Company’s free cash flow based on its 3Q’16 IFRS consolidated results.

The date upon which the shareholders entitled to 3Q’16 dividends will be determined was set as 9th January 2017.

Dividend yield* on 3Q’16 dividends will total 10%.

9M’16 dividends will amount to RUB 5.84 per share, which is equivalent to 89% of NLMK Group’s net profit or 62% of the Company’s free cash flow based on its 9M’16 IFRS consolidated results.

At the meeting, the Group’s shareholders also adopted revised versions of the Company’s statutory documents, namely the NLMK Charter, Regulations on the General Shareholders’ Meeting, Regulations on the Board of Directors, and Regulations on the Management Board.

The revised versions are in line with the amendments introduced to corporate legislation, particularly those that will come into force from 1st January 2017. They also take into account the provisions of the Corporate Governance Code recommended by the Bank of Russia on 10th April 2014.

*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, yoy.

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

For more information about dividend yield please follow the link.

 

 

 

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