Shipbuilding. Energy. Transport

On-line supplement
to the Maritime Market magazine

Shipbuilding. Energy. Transport Maritime Market magazine

Press Release

MMK EGM approves dividends for M9 2017

PJSC Magnitogorsk Iron and Steel Works ("MMK" or "the Company) announces that an Extraordinary General Meeting of shareholders was held on 8 December 2017 (the EGM) with absentee voting.

Shareholders approved by majority vote a dividend on MMKs issued ordinary registered shares of RUB 1.111 (before taxes) per share for the third quarter of 2017 (or approximately USD 209 mln in total based on the exchange rate as of the date of decision), which amounts to 59% of free cash flow under IFRS for Q3 2017, and secures 2.5% dividend yield.

The dividend will be paid in cash by bank transfer within the period and in the manner stated by the Federal Law on Joint-Stock Companies.

The dividend record date is set as the close of trading on 19 December 2017.


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