28 Jul 2017 14:00
Press release
28 July 2017
NLMK BOARD OF DIRECTORS RECOMMENDS DIVIDENDS FOR Q2 2017
At a meeting held on 28 July 2017, NLMK Group's (LSE:NLMK) Board of Directors recommended the Company's shareholders to approve payment of Q2'17 dividends at the upcoming Extraordinary General Shareholder Meeting (EGM) which will be held on 29 September 2017.
NLMK Group's Board of Directors recommended NLMK shareholders approve Q2'17 dividends of RUB 3.20 per share, which is equivalent to 95% of NLMK Group's net profit based on its Q2'17 IFRS consolidated results.
Dividend yield* of Q2'17 dividends will total 11.2%.
NLMK Board of Directors has also recommended that the shareholders set the date upon which the shareholders entitled to Q2'17 dividends will be determined as 12 October 2017.
The list of persons entitled to participate at the EGM will be compiled on the basis of the NLMK Shareholder Register as of 4 September 2017.
Previously, at the Annual General Shareholder Meeting held on 2 June 2017, NLMK shareholders approved payment of Q1'17 dividends of RUB 2.35 per share.
* * *
* Dividend yield is calculated as the annualized sum of dividends for the period, divided by the company's market capitalization on the last day of the relevant period.
For more information about NLMK Group's dividend policy please visit NLMK's website.
Media contact info: Sergey Babichenko +7 (916) 824 6743 babichenko_sy@nlmk.com | IR contact info: Sergey Takhiev +7 (985) 760 5574 st@nlmk.com |
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 windmills.
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 6M 2017, the Company generated $4.699 billion in revenue and $1.221 billion in EBITDA. As of 30 June 2017, Net debt/EBITDA stood at 0.43х. The company has an investment grade credit rating from S&P and Fitch.
NLMK's ordinary shares with a 16% 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 RUR1. For more details on NLMK shareholder capital, please follow the link.
In 2016 NLMK Group received Steel Industry Leadership Award from S&P Global Platts, a global analytical agency.
For more information on NLMK Group please visit www.nlmk.com