Last checked at 
(Sharecast News) - Iron ore pellet producer Ferrexpo announced a final dividend for 2019 on Tuesday as it said it had continued to perform in line with its expectations since full-year results in March.
The company said last month that it was deferring its decision on a final dividend until there was more clarity on the impact of the Covid-19 outbreak. However, since then it has continued to perform "well", with pellet production in the first quarter up 7% compared to the same period a year ago and sales tonnages successfully re-allocated within its customer portfolio to markets less affected by the virus.
"Costs are benefitting from lower oil and energy prices and the group has continued to maintain a strong balance sheet and low debt levels with net debt further reducing since 31 December 2019," it said.
As a result, Ferrexpo announced a final special dividend for 2019 of 3.3 US cents per share, down from 6.6 cents in 2018, and a final ordinary dividend of 3.3 cents, also down from 6.6 cents.
Non-executive chairman Steve Lucas said: "Since the announcement of our full year results on 18 March, the group has continued to trade well despite current macro-economic difficulties. This has primarily been achieved by redirecting sales to Asia while our costs have also fallen. As a result, the board feels it is appropriate to declare a final special and ordinary dividend for 2019."
2 May 2023 09:18
IN BRIEF: Ferrexpo CEO to resign, chair and CFO will replace
Ferrexpo PLC - Switzerland-headquartered iron ore company with assets in Ukraine - Jim North, chief executive officer to step down from role after nine years with group, effective June 30. North assumed leadership in 2020 and is stepping down "to pursue other opportunities". Non-Executive Chair Lucio Genovese to move to executive chair on interim basis starting on July 1. Chief Financial Officer Nikolay Kladiev will become an executive director at annual general meeting on May 25.
Read more