At a meeting held on 1 March 2019, NLMK Group’s (LSE: NLMK) Board of Directors recommended the Company’s shareholders approve payment of Q4’18 dividends of RUB 5.80 per share at the upcoming Annual General Shareholder Meeting (AGM), which will be held on 19 April 2019.
NLMK Group’s Board of Directors recommended NLMK shareholders approve Q4’18 dividends of RUB 5.80 per share, which is equivalent to 100% of the Company’s free cash flow based on its IFRS consolidated results for Q4’18. Q4’18 dividend yield* will total 15%.
Taking into account dividends accrued in Q1-Q3’18, 12M’18 dividends will total approximately 102% of NLMK Group’s free cash flow for the relevant period.
NLMK Board of Directors also recommended that the shareholders set the date upon which the shareholders entitled to Q4’18 dividends will be determined as 6 May 2019.
The date as of which the list of persons entitled to participate at the AGM will be compiled is 25 March 2019.
Total 9M‘18 dividends amounted to RUB 17.01 per share. Taking into account recommended dividends for Q4’18, dividend yield could total 15%.
* 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.For more information about NLMK Group’s Dividend Policy, please visit NLMK’s website.