NLMK shareholders approve Q3 2019 dividends and new revisions of corporate documents
At the Extraordinary General Shareholders’ Meeting (EGM) held on 20 December 2019, NLMK shareholders approved the payment of Q3’19 dividends of RUB 3.22 per share. The total amount of Q3’19 dividends payable to shareholders is equivalent to 124% of the Company's free cash flow based on its IFRS consolidated results for the corresponding period.
The date upon which the shareholders entitled to Q3’19 dividends will be determined was set as 9 January 2020.
NLMK’s Extraordinary General Meeting of Shareholders approved new revisions of NLMK’s corporate documents (Regulations on NLMK’s General Shareholders’ Meeting, Regulations on NLMK’s Board of Directors) to bring them in compliance with legislative changes, as well as to confirm NLMK Group’s commitment to the Sustainable Development Goals as set out by the UN Global Compact, and to reflect the role the Board of Directors plays in the Company’s sustainable development.
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 wind turbines.
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 12M 2018, the Company generated $12 billion in revenue and $3.6 billion in EBITDA. Net debt/EBITDA stood at 0.25х. The Company has investment grade credit ratings from S&P, Moody’s, Fitch and Expert RA.
NLMK’s ordinary shares with a 19% 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.