Source - RNS
RNS Number : 3799L
Novolipetsk Steel
30 September 2016
 

30 September 2016

NLMK Group to pay 55% of 2Q'16 net profit in dividends

NLMK shareholders at the Extraordinary General Shareholder Meeting (EGM) held on 30 September 2016, approved payment of 2Q'16 dividends of RUB 6,473 m, or RUB 1.08 per share (-4% qoq and +16% yoy), which is equivalent to 55% of NLMK Group's net profit or 64% of the Company's free cash flow based on its 2Q'16 IFRS consolidated results.

The date upon which the shareholders entitled to 2Q'16 dividends will be determined was set as 12 October 2016.

1H'16 dividends will amount to RUB 13,245 m (-14% yoy), which is equivalent to 84% of NLMK Group's net profit or 47% of the Company's free cash flow based on its 1H'16 IFRS consolidated results.

Dividend yield* on 2Q'16 dividends will total 7.5%.

* * *

*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, yoy.

For more information about NLMK Group's dividend policy please go to NLMK's site.

For more information about dividend yield please follow the link.

 

About NLMK Group

NLMK Group is the largest steelmaker in Russia and one of the most efficient in the world. NLMK's production assets are located in Russia, Europe, and the United States. The company's steel production capacity exceeds 17 million tonnes per year, of which about 16 million tonnes are produced in Russia.

NLMK's metal products are used in various industries, from construction and engineering to the manufacturing of power-generating equipment and offshore wind turbines.

In H1 2016, the company generated $3.45 billion in revenue and $750 million in EBITDA. As of 30 June 2016, Net debt/EBITDA stood at 0.74х.

NLMK's ordinary shares are traded on the Moscow Stock Exchange (MICEX-RTS, ticker symbol: NLMK), and its global depositary shares are traded on the London Stock Exchange (ticker symbol: NLMK:LI).

NLMK Group was recognized as Steel Industry Leader (Industry Leadership Awards - Steel) at the prestigious 2016 Platts Global Metals Awards held by a leading international periodical S&P Global Platts, which provides analytical information on commodities and energy markets.

For more information on NLMK Group, please visit www.nlmk.com

 


This information is provided by RNS
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