11:29 16.04.2021

Ferrexpo offers final dividends for 2020 at $ 0.132 per share versus $ 0.03 for 2019

2 min read
Ferrexpo offers final dividends for 2020 at $ 0.132 per share versus $ 0.03 for 2019

The board of directors of Ferrexpo offers the shareholders final dividends for 2020 at $ 0.132 per share for approval, compared with final dividends for 2019 at $ 0.033 per share in 2019.

"The board of directors of Ferrexpo is pleased to propose a final ordinary dividend for the 2020 financial year end of 13.2 U.S. cents per share (final ordinary dividend for 2019: some 3.3 U.S. cents per share), for approval by shareholders at the group's annual general meeting on May 27, 2021. The dividend proposed today reflects the current strength of the group's balance sheet, robust iron ore prices and pellet premiums. Total dividends announced and proposed in respect of 2020 are therefore 85.8 U.S. cents per share (2019: some 19.8 U.S. cents per share), with this increase in shareholder returns indicative of the ongoing strength of the group's operations and balance sheet, resilience of the business throughout the global COVID-19 pandemic and broader iron ore market conditions," the group said on the website of the London Stock Exchange.

"After deducting special interim dividends announced in Q1, 2021, under the revised terms of the group's major bank debt facility, the remaining total available distributable reserves in 2021, subject to relevant thin capitalization rules and company law distribution requirements, will be the equivalent of approximately 29.9 U.S. cents per share," the report says.

"If approved by shareholders at the meeting, payment of the final ordinary dividend will be made on July 1, 2021 to those shareholders on the register at the close of business on June 18, 2021. Dividends will be paid in UK Pounds Sterling, with an election to receive in U.S. Dollars," it says.

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