At a meeting held on 31 July 2018, NLMK Group’s (LSE: NLMK) Board of Directors recommended the Company’s shareholders approve payment of Q2’18 dividends of RUB 5.24 per share at the upcoming Extraordinary General Shareholder Meeting (EGM) which will be held on 28 September 2018.
NLMK Group’s Board of Directors recommended NLMK shareholders approve Q2’18 dividends of
RUB 5.24 per share, which is equivalent to approximately 100% of the Company’s average free cash flow and net income based on its IFRS consolidated results for H1’18. Q2’18 dividend yield* will total 14%.
The Board of Directors also recommended that shareholders set the date upon which the shareholders entitled to Q2’18 dividends will be determined as 12 October 2018.
The list of persons entitled to participate at the EGM will be compiled as of 3 September 2018.
Previously, at the Annual General Shareholder Meeting held on 8 June 2018, NLMK shareholders approved payment of Q1’18 dividends of RUB 5.73 per share.
Aggregate Q1’18 and Q2’18 dividends amount to RUB 10.97 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.