NLMK.L Regulatory News (NLMK)

Press release

23 December 2016

NLMK shareholders approve 3Q 2016 dividends and adopt revised versions of statutory documents

At the Extraordinary General Shareholder Meeting (EGM) held on 23rd December, NLMK shareholders approved payment of 3Q'16 dividends of RUB 3.63 per share, which is equivalent to 93% of NLMK Group's net profit or 75% of the Company's free cash flow based on its 3Q'16 IFRS consolidated results.

The date upon which the shareholders entitled to 3Q'16 dividends will be determined was set as 9th January 2017.

Dividend yield* on 3Q'16 dividends will total 10%.

9M'16 dividends will amount to RUB 5.84 per share, which is equivalent to 89% of NLMK Group's net profit or 62% of the Company's free cash flow based on its 9M'16 IFRS consolidated results.

At the meeting, the Group's shareholders also adopted revised versions of the Company's statutory documents, namely the NLMK Charter, Regulations on the General Shareholders' Meeting, Regulations on the Board of Directors, and Regulations on the Management Board.

The revised versions are in line with the amendments introduced to corporate legislation, particularly those that will come into force from 1st January 2017. They also take into account the provisions of the Corporate Governance Code recommended by the Bank of Russia on 10th April 2014.

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*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, yoy.

For more information about NLMK Group's dividend policy please go to NLMK's website.

For more information about dividend yield please follow the link.

About NLMK Group

NLMK Group is the largest steelmaker in Russia and one of the most efficient in the world.

NLMK's metal products are used in various industries, from construction and engineering to the manufacturing of power-generating equipment and offshore wind turbines.

NLMK's production assets are located 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 sector. In 9M 2016, the Company generated $5.671 billion in revenue and $1,423 billion in EBITDA. As of 30 September 2016, Net debt/EBITDA stood at 0.39х.

NLMK free-float is 16%, its ordinary shares are traded on the Moscow Stock Exchange (MICEX-RTS, ticker symbol: NLMK), and its global depositary shares are traded on the London Stock Exchange (ticker symbol: NLMK:LI). For more information on shareholder structure please follow the link. 

NLMK Group was recognized as Steel Industry Leader (Industry Leadership Awards - Steel) 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 about NLMK Group, please visit www.nlmk.com