NLMK BoD recommends dividends for Q2 2018

Press release

31 July 2018

NLMK Board of Directors recommends dividends for Q2 2018

At a meeting held on 31 July 2018, NLMK Group's (LSE: NLMK) Board of Directors recommended the Company's shareholders approve payment of Q2'18 dividends of RUB 5.24 per share at the upcoming Extraordinary General Shareholder Meeting (EGM) which will be held on 28 September 2018.

NLMK Group's Board of Directors recommended NLMK shareholders approve Q2'18 dividends ofRUB 5.24 per share, which is equivalent to approximately 100% of the Company's average free cash flow and net income based on its IFRS consolidated results for H1'18. Q2'18 dividend yield* will total 14%.

The Board of Directors also recommended that shareholders set the date upon which the shareholders entitled to Q2'18 dividends will be determined as 12 October 2018.

The list of persons entitled to participate at the EGM will be compiled as of 3 September 2018.

For reference:Previously, at the Annual General Shareholder Meeting held on 8 June 2018, NLMK shareholders approved payment of Q1'18 dividends of RUB 5.73 per share.

Aggregate Q1'18 and Q2'18 dividends amount to RUB 10.97 per share.

* * *

* Dividend yield is calculated as the sum of dividends for the period converted at the exchange rate at the end of the reporting period, annualized by multiplying the amount for the quarter by 4 and divided by the total market capitalization of the company on the last day of the relevant period.

For more information about NLMK Group's dividend policy, please visit NLMK's website.

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 H1 2018, the Company generated $5.9 billion in revenue and $1.7 billion in EBITDA. As of 30 June 2018, Net debt/EBITDA stood at 0.31х. The company has investment grade credit ratings from S&P, Moody's 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 RUB1. For more details on NLMK shareholder capital, please follow the link.

NLMK Group received the Steel Industry Leadership Award at the prestigious 2016 Platts Global Metals Awards held by S&P Global Platts, a leading international industry analytical periodical.

For more information on NLMK Group, please visit our website.