At a meeting held on 24 October 2019, NLMK Group's (LSE: NLMK) Board of Directors recommended the Company's shareholders to approve Q3'19 dividend of RUB 3.22 per share at the upcoming Extraordinary General Shareholder Meeting (EGM) which will be held
on 20 December 2019.
NLMK Group's Board of Directors recommended NLMK shareholders to approve Q3'19 dividend in the amount of RUB 3.22 per share, which is approximately equivalent to 120% of the Company's free cash flow based on its IFRS consolidated results for Q3'19.
The Board of Directors also recommended that shareholders set the date upon which the shareholders entitled to Q3'19 dividends will be determined as 9 January 2020.
The list of persons entitled to participate at the EGM will be compiled as of 25 November 2019.
Previously, at the EGM held on 27 Septenber 2019, NLMK shareholders approved Q2'19 dividends in the amount of RUB 3.68 per share.
Total Q1'19 and Q2'19 dividends amounted to RUB 11.02 per share.
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For more information about NLMK Group's dividend policy, please visit NLMK's website.
About NLMK Group
NLMK Group is the largest steelmaker in Russia and one of the most efficient in the world.
NLMK Group’s steel products are used in various industries, from construction and machine building to the manufacturing of power-generation equipment and offshore wind turbines.
NLMK operates production facilities in Russia, Europe and the United States. The Company’s steel production capacity exceeds 17 million tonnes per year.
NLMK has the most competitive cash cost among global manufacturers and one of the highest profitability levels in the industry. In 12M 2018, the Company generated $12 billion in revenue and $3.6 billion in EBITDA. Net debt/EBITDA stood at 0.25õ. The Company has investment grade credit ratings from S&P, Moody’s, Fitch and RAEX (Expert RA).
NLMK’s ordinary shares with a 19% free-float are traded on the Moscow Stock Exchange (ticker "NLMK") and its global depositary shares are traded on the London Stock Exchange (ticker "NLMK:LI"). The share capital of the Company is divided into 5,993,227,240 shares with a par value of RUB1. For more details on NLMK shareholder capital please follow the link.