Mining company Ferrexpo Konstantin Zhevago plc. announced payment of a special interim dividend of 6.6 cents per share. It corresponds to the level of payments for 2018 and two times higher than in 2017.
"the Special dividend reflects the high ability of the group to generate cash and strategy of the Board of Directors to maintain balance between sustainable and attractive returns for shareholders by investment in growth opportunities and strong balance sheet," reads message Ferrexpo.
To date, the total amount of dividends declared by the company for the 2019 fiscal year is 13.2 cents, or about 80 million U.S. dollars.
the Board of Directors of Ferrexpo will consider the final dividend for the 2019 financial year before the announcement of the results of operations for the full year on March 18, 2020.
Interim special dividend will be paid on 17 January 2020 to shareholders registered in the register at the end of the day January 10, 2020. They will be paid in British pounds sterling with a choice of in U.S. dollars.
Ferrexpo is a Swiss iron ore company with headquarters in Ukraine. For 40 years she is engaged in the production, processing and sale of iron ore pellets of high quality for the global steel industry.
Ferrexpo's Resource base is one of the largest deposits of iron ore in the world. In 2018, the group produced 10.6 million tonnes of pellets, up 2% compared to 2017, making it the third largest exporter of pellets to the global steel industry with a market share of about 8%.
Earlier it was reported that the national Bank of Ukraine began to enforce 1.5 billion from ex-Deputy Konstantin Zhevago, a suspect in money laundering and embezzlement of 2.5 billion UAH of Bank "Finance and Credit".
In early December last year, the investigative judge granted the petition, supported by the attorney General's office of Ukraine on election of a measure of restraint in the form of detention former people's Deputy of Ukraine of III-VIII convocations, who is suspected of embezzlement of property of one of the banks of Ukraine and the legalization (laundering) of incomes obtained in a criminal way in especially large size (part 3 of article 27, part 5 of article 191, part 3 of article 209 of the criminal code of Ukraine).
At the end of October Zhevago temporarily left position Director of the company Ferrexpo.
