At a meeting held on 28 April 2017, NLMK Group’s (LSE:NLMK) Board of Directors recommended the Company’s shareholders approve payment of Q1’17 dividends at the upcoming Annual General Shareholder Meeting (AGM) which will be held on 2 June 2017.
NLMK Group’s Board of Directors recommended NLMK shareholders approve Q1’17 dividends of RUB 2.35 per share, which is equivalent to 77% of NLMK Group’s net profit based on its 3 month 2017 IFRS consolidated results.
Dividend yield* of Q1’17 dividends will total 8.4%.
NLMK Board of Directors has also recommended that the General Shareholder Meeting set the date upon which the shareholders entitled to Q1’17 dividends will be determined as 14 June 2017.
The list of persons entitled to participate at the AGM will be compiled on the basis of the NLMK Shareholder Register as of 8 May 2017.
Previously, at a meeting held on 3 March 2017, Board of Directors recommended NLMK shareholders approve payment of Q4’16 dividends of RUB 3.38 per share.
* 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.
For more information about NLMK Group’s dividend policy please visit NLMK’s website.