At a meeting held on 27 April 2018, NLMK Group’s (LSE: NLMK) Board of Directors recommended the Company’s shareholders to approve payment of Q1’18 dividends of RUB 5.73 per share at the upcoming Annual General Shareholder Meeting (AGM) which will be held on 8 June 2018.
NLMK Group’s Board of Directors recommended NLMK shareholders approve Q1’18 dividends of
RUB 5.73 per share, which is equivalent to 100% of the Company’s free cash flow based on its IFRS consolidated results for Q1’18. Q1’18 dividend yield* will total 16%.
The Board of Directors also recommended that the shareholders set the date upon which the shareholders entitled to Q1’18 dividends will be determined as 20 June 2018.
The list of persons entitled to participate at the AGM will be compiled on the basis of the NLMK Shareholder Register as of 14 May 2018.
Previously, at a meeting held on 5 March 2018, the Board of Directors recommended NLMK shareholders approve payment of Q4’17 dividends of RUB 3.36 per share.
12M’17 accrued dividends could total RUB 14.04 per share, which is equivalent to 100% of NLMK Group’s 2017 net profit.
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* Dividend yield is calculated as the sum of dividends for the period converted at the exchange rate at the end of the reporting period, annualized by multiplying the amount for the quarter by 4 and divided by the total market capitalization of the company on the last day of the relevant period.
For more information about NLMK Group’s dividend policy, please visit NLMK’s website.