PJSC Magnitogorsk Iron and Steel Works: MMK BOARD OF DIRECTORS RECOMMENDS DIVIDENDS FOR Q4 2018
PJSC Magnitogorsk Iron and Steel Works (MMK)
MMK BOARD OF DIRECTORS RECOMMENDS DIVIDENDS FOR Q4 2018
PJSC Magnitogorsk Iron & Steel Works ("MMK" or "the Company", ticker: MMK:LI) announces that on 8 February 2019 the Company's Board of Directors recommended that the Annual General Meeting of shareholders approve a dividend of RUB 1.398 (before taxes) per share for the fourth quarter of 2018 on MMK's issued ordinary registered shares.
The dividend will represent the total of approximately USD 239 mln at the current exchange rate, which equals to 100% of the Company's FCF for Q4 2018.
As a result, for the FY 2018 the Company will distribute dividends equal to 100% of its generated FCF which totalled USD 1,027 mln.
2019 AGM date will be set at the Board of Directors meeting scheduled on March 1st 2019.
MMK is one of the world's largest steel producers and a leading Russian metals company. The company's operations in Russia include a large steel-producing complex encompassing the entire production chain, from the preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products with a predominant share of high-value-added products. In 2018, the company produced 12.7 million tonnes of crude steel and 11.7 million tonnes of commercial steel products. MMK Group had sales in 2018 of USD 8,214 million and EBITDA of USD 2,418 million.
|EQS News ID:||774319|
|End of Announcement||EQS News Service|
EQS Group is a leading international technology provider for Digital Investor Relations, Corporate Communications and Compliance. More than 8,000 companies worldwide trust EQS’s products and services to securely, efficiently, and simultaneously fulfil complex national and international disclosure and compliance requirements, and to reach stakeholders globally.
- Codestone Help Oprema Achieve Record Growth Targets With SAP Business One
- ComplySci Adds Three New Executives to Leadership Team During Time of Record Growth
- AMREL Integrates Suprema's Fingerprint Scanner into Biometric Tablets
- Taseko's Florence Copper Produces +99.9% Copper Cathode in First Harvest
- Leading Independent Proxy Advisor, Key Shareholders, and More Analysts Back Jonathan Goodman’s Knight, Recommend Meir Jakobsohn Not be Re-elected to the Board
- Annual General Meeting 2019