6 Mar 2017 07:00
Press release
6 March 2017
NLMK BOARD OF DIRECTORS RECOMMENDS DIVIDENDS FOR Q4 2016
At a meeting held on 3 March 2017, NLMK Group's (LSE:NLMK) Board of Directors recommended NLMK shareholders approve payment of 4Q'16 dividends at the upcoming Annual General Shareholder Meeting (AGM) which will be held on 02 June 2017.
NLMK Group's Board of Directors recommended NLMK shareholders approve 4Q'16 dividends of RUB 3.38 per share.
2016 accrued dividends amounted to RUB 9.22 per share, which is equivalent to 97% of NLMK Group's net profit, or 83% of the Company's free cash flow based on its 2016 IFRS consolidated results.
Dividend yield* on 2016 accrued dividends will total approximately 8%.
The list of persons entitled to participate at the AGM will be formed on the basis of the NLMK Shareholder Register as of 8 May 2017.
NLMK Board of Directors has also recommended that the General Shareholder Meeting set the date upon which the shareholders entitled to 4Q'16 dividends are to be determined as 14 June 2017.
* * *
* 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.
For more information about NLMK Group's dividend policy please go to NLMK's site.
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 9M 2016, the Company generated $5.7 billion in revenue and $1.4 billion in EBITDA. As of 30 September 2016, Net debt/EBITDA stood at 0.39х. 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"). 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
NLMK.L (NLMK)