NLMK shareholders approve 5.6 billion ruble dividend payment for Q2 2015
OREANDA-NEWS. NLMK’s Extraordinary General Meeting of Shareholders, which was held on 30 September 2015, has approved payment of dividends for Q2 2015 in the amount of 5,574 million rubles, which is equal to RUB 0.93 per share.
For Q1 2015, shareholders received 9,829 million rubles, which was equal to 1.64 rubles per share. The date on which the shareholders entitled to dividends will be determined was set as 12th October 2015.
The following dates were set for dividend payment:
- up to and including 26 October 2015 for nominal shareholders and professional securities market participants (trust managers);
- up to and including 17 November 2015 for other shareholders (including individuals).
NLMK Group presented its new Dividend Policy that came into force on 24 April this year at its Capital Markets Day, which was held in February 2015. According to the new Policy, the Company pays dividends on a quarterly basis; in an amount of not less than 30-50% of net income or free cash flow (50% if Net Debt/EBITDA is less than or equal to 1.0x).About NLMK
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 manufacture of power-generating equipment and offshore wind turbines.
NLMK's production assets are located in Russia, Europe, and the United States. The Company’s liquid steel production capacity is over 17 million tonnes per year, of which about 16 million tonnes are produced in Russia.
NLMK has the most competitive cash cost among global manufacturers; and one of the highest profitability levels in the sector. The company generated \\$4.4 billion in revenue; \\$1.1 billion in EBITDA; and a net profit of \\$491 million in H1 2015.
NLMK’s ordinary shares are traded on the Moscow Stock Exchange (ticker symbol: NLMK), and its global depositary shares are traded on the London Stock Exchange (ticker symbol: NLMK:LI).