MOSCOW, Dec 29 (PRIME) -- The shareholders of Russia’s Magnitogorsk Iron and Steel Works (MMK) have approved paying 2.391 rubles per share in dividends for July–September, the company said in a statement on Tuesday.
The company previously paid 0.607 rubles per share in dividends for April–June, which accounted for 200% of its free cash flow.
In 2019, the company paid 1.488 rubles per share, or 16.627 billion rubles, or 100% of free cash flow, in dividends for January–March; 0.69 rubles per share, or 7.71 billion rubles, or 200% of free cash flow, in dividends for April–June; and 1.65 rubles per share, or 18.438 billion rubles, or 100% of free cash flow, in dividends for July–September; and 1.507 rubles per share or 16.84 billion rubles in dividends for October–December.
Viktor Rashnikov, chairman of the board of directors, holds 84.26% in MMK, while free float accounts for 15.7%.
(73.7175 rubles – U.S. $1)
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