PJSC Magnitogorsk Iron and Steel Works: MMK BOARD OF DIRECTORS RECOMMENDS DIVIDENDS FOR Q4 2018

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PJSC Magnitogorsk Iron and Steel Works (MMK) 
PJSC Magnitogorsk Iron and Steel Works: MMK BOARD OF DIRECTORS RECOMMENDS 
DIVIDENDS FOR Q4 2018 
 
11-Feb-2019 / 11:32 CET/CEST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
          MMK BOARD OF DIRECTORS RECOMMENDS DIVIDENDS FOR Q4 2018 
 
                         11-02-2019, Magnitogorsk 
 
       PJSC Magnitogorsk Iron & Steel Works ("MMK" or "the Company", ticker: 
  MMK:LI) announces that on 8 February 2019 the Company's Board of Directors 
       recommended that the Annual General Meeting of shareholders approve a 
    dividend of RUB 1.398 (before taxes) per share for the fourth quarter of 
                         2018 on MMK's issued ordinary registered shares. 
 
   The dividend will represent the total of approximately USD 239 mln at the 
     current exchange rate, which equals to 100% of the Company's FCF for Q4 
                         2018. 
 
 As a result, for the FY 2018 the Company will distribute dividends equal to 
                     100% of its generated FCF which totalled USD 1,027 mln. 
 
    2019 AGM date will be set at the Board of Directors meeting scheduled on 
                         March 1st 2019. 
 
                         About MMK 
 
     MMK is one of the world's largest steel producers and a leading Russian 
          metals company. The company's operations in Russia include a large 
  steel-producing complex encompassing the entire production chain, from the 
 preparation of iron ore to downstream processing of rolled steel. MMK turns 
             out a broad range of steel products with a predominant share of 
high-value-added products. In 2018, the company produced 12.7 million tonnes 
    of crude steel and 11.7 million tonnes of commercial steel products. MMK 
        Group had sales in 2018 of USD 8,214 million and EBITDA of USD 2,418 
                         million. 
 
Investor contacts: 
 
Andrey Serov 
 
tel.: [phone] 
 
E-mail: [e-mail] 
 
Media contacts: 
 
Dmitry Kuchumov            Dmitry Bulin 
 
tel.: [phone]   tel.: [phone] 
 
E-mail: [e-mail] E-mail: [e-mail] 
 
ISIN:          US5591892048 
Category Code: DIV 
TIDM:          MMK 
LEI Code:      253400XSJ4C01YMCXG44 
Sequence No.:  7436 
EQS News ID:   774319 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

February 11, 2019 05:33 ET (10:33 GMT)