The Board of Directors of NLMK Group (LSE: NLMK; MOEX: NLMK), a vertically integrated metallurgical company, at a meeting on July 25, 2019, recommended shareholders to approve dividends for the 2nd quarter of 2019 in the amount of RUB 3.68 per share at an extraordinary general meeting shareholders, which will take place on September 27, 2019.
The date on which the persons entitled to participate in the extraordinary general meeting of shareholders are determined is September 2, 2019. Shareholders are advised to set the date as of which the persons entitled to receive dividends for the 2nd quarter of 2019 are determined - October 10, 2019.
The dividend yield * for the 2nd quarter of 2019 will be 14.6%. The total amount of dividends payable for the 2nd quarter of 2019 is equivalent to 136% of the free cash flow of NLMK Group for the corresponding period according to the consolidated financial statements prepared in accordance with IFRS.
Earlier on June 7, 2019 by the decision of the extraordinary general meeting of shareholders approved dividends for the 1st quarter of 2019 in the amount of RUB 7.34 per share. The total amount of dividends for Q1 and Q2 2019 will amount to RUB 11.02 per share.
For more details on NLMK Group's dividend policy, please visit the website.
* Dividend the yield is calculated as the sum of dividends for the last four quarters in US dollars at the exchange rate at the date of the dividend declaration for each quarter, divided by the closing price of the stock on July 25, 2019
