12 Aug 2016 13:45
Press release
12 August 2016
NLMK BOARD OF DIRECTORS RECOMMENDS DIVIDENDS FOR 2Q 2016
At a meeting held on 12 August 2016, NLMK Group's Board of Directors recommended NLMK shareholders approve payment of 2Q'16 dividends at the upcoming Extraordinary General Shareholder Meeting (EGM) which will be held on 30 September 2016.
NLMK Group's Board of Directors recommended NLMK shareholders approve 2Q'16 dividends of RUB 6,473 m, or RUB 1.08 per share, which is equivalent to 55% of NLMK Group's net profit or 64% of the Company's free cash flow based on its IFRS consolidated results for 2Q'16.
6M'16 dividends amounted to RUB 13,245 m, which is equivalent to 84% of NLMK Group's net profit or 47% of the Company's free cash flow based on its 1H'16 IFRS consolidated results.
Dividend yield * on 2Q'16 dividends will total 7.5%.
The list of persons entitled to participate at the EGM is formed on the basis of the NLMK Shareholder Register as of 5 September 2016.
NLMK Board of Directors has also recommended that the shareholders set the date upon which the shareholders entitled to 2Q'16 dividends will be determined as 12 October 2016.
For more information about NLMK Group's dividend policy please go to NLMK's site.
For more information about dividend yield please follow the link.
* 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, y-o-y.
About NLMK Group
NLMK Group is the largest steelmaker in Russia and one of the most efficient in the world.
NLMK's production assets are located in Russia, Europe, and the United States. The Company's steel processing capacity is over 17 million tonnes per year, of which about 16 million tonnes are produced in Russia.
NLMK Group's high-quality steel products are used in a variety of industries, from construction and machine-building to the manufacture of power generation equipment and offshore windmills.
In Q2 2016, the Company generated $1.87 billion in revenue and $460 million in EBITDA.As of 30 June 2016, Net debt/EBITDA stood at 0.74х.
NLMK's ordinary shares are traded on the Moscow Stock Exchange (ticker "NLMK") and its global depositary shares on the London Stock Exchange (ticker "NLMK:LI"). The company's investment credit rating is BBB-.
NLMK Group was recognized as Steel Industry Leader at the prestigious 2016 Platts Global Metals Awards held by a leading international periodical S&P Global Platts, which provides analytical information on commodities and energy markets.
For more information on NLMK Group please visit www.nlmk.com