NLMK Board of Directors recommends dividends for Q4 2017
At a meeting held on 5 March 2018, NLMK Group’s (LSE: NLMK) Board of Directors recommended the Company’s shareholders to approve payment of Q4’17 dividends of RUB 3.36 per share at the upcoming Annual General Shareholder Meeting (AGM) which will be held on 8 June 2018.
NLMK Group’s Board of Directors recommended NLMK shareholders approve Q4’17 dividends of RUB 3.36 per share. Q4’17 dividend yield* will total 9.1%.Shareholder Meeting (AGM) which will be held on 8 June 2018.
NLMK Board of Directors has also recommended that the shareholders set the date upon which the shareholders entitled to Q4’17 dividends will be determined as 20 June 2018. Shareholder Meeting (AGM) which will be held on 8 June 2018.
The list of persons entitled to participate at the AGM will be compiled on the basis of the NLMK Shareholder Register as of 14 May 2018. Shareholder Meeting (AGM) which will be held on 8 June 2018.
Taking into account declared dividends for Q1-Q3’17, 12M’17 accrued dividends could total RUB 14.04 per share, which is equivalent to 100% of NLMK Group’s 2017 net profit. Shareholder Meeting (AGM) which will be held on 8 June 2018.
Previously, at the Extraordinary General Shareholder Meeting held on 22 December 2017, NLMK shareholders approved payment of Q3’17 dividends of RUB 5.13 per share. Aggregate Q1-Q3‘17 dividends amount to RUB 10.68 per share.
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* 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.
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 2017, the Company generated $10.07 billion in revenue and $2.66 billion in EBITDA. As of 31 December 2017, Net debt/EBITDA stood at 0.35х. 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.
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.