Last checked at 15 Jun 2020 07:00
15 June 2020
FERREXPO PLC
("Ferrexpo", "the Company" or the "Group")
Ferrexpo 2020 Interim Dividend Declaration
The board of directors are pleased to announce an interim 2020 dividend of 6.6 US cents, payable on 3 July 2020 to shareholders on the register as of 19 June 2020.
The Group continues to perform strongly. Pellet production as of 31 May 2020 was up 6% compared to the first five months of 2019. Our operating subsidiaries have taken precautions to protect our workforce and local communities against the COVID-19 virus and, to date, there has been no adverse impact on operations.
As of 31 May 2020, sales volumes had increased by approximately 21% compared to the same period in 2019. Higher sales have been driven by a strong production performance, de-stocking and the Group's ability to offset weaker demand in Europe through increased sales to Asia. The iron ore fines price has remained resilient year to date while lower freight rates and production costs have compensated for weaker pellet premiums.
For further information, contact:
Ferrexpo:
Ingrid McMahon | +44 207 389 8304 |
Maitland:
James Isola | +44 207 379 5151 |
Notes to Editors:
Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine. It has been mining, processing and selling high quality iron ore pellets to the global steel industry for over 40 years. In 2019, the Group produced 10.5 million tonnes of pellets ranking it as the 3rd largest exporter of pellets to the global steel industry with a market share of approximately 8%. Ferrexpo has a diversified customer base supplying steel mills in Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam and America. Ferrexpo has a premium listing on the main market of the London Stock Exchange. For further information, please visit www.ferrexpo.com