NLMK shareholders approve Oct–Dec dividends of 3.12 rbl/share

MOSCOW, May 29 (PRIME) -- The shareholders of Russian steelmaker Novolipetsk Steel (NLMK) have approved paying 3.21 rubles per share in dividends for October–December 2019, the company said in a statement on Friday.

The record date for the dividends is June 9.

Initially, the company’s board of directors recommended paying 5.16 rubles per share, or a total of 30.925 billion rubles, in dividends for the period, but the shareholders suggested reduction of dividends at an annual general meeting in April. The board recued the recommendation to 3.12 rubles per share, saying that the decision was made based upon changes in the market situation.

In 2019, the company paid 3.22 rubles per share, or a total of 19.298 billion rubles, in dividends for July–September, 3.68 rubles per share, or a total of around 22.06 billion rubles, in dividends for April–June, and 7.34 rubles per share, or a total of 43.99 billion rubles, in dividends for January–March.

Vladimir Lisin holds around 81.4% in NLMK through Fletcher Group.

(71.1012 rubles – U.S. $1)

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