Ferrexpo PLC Interim Special Dividend Declaration (5768J)
December 06 2018 - 1:00AM
UK Regulatory
TIDMFXPO
RNS Number : 5768J
Ferrexpo PLC
06 December 2018
6 December 2018
FERREXPO plc
("Ferrexpo" or the "Group")
Special dividend
Ferrexpo has continued to trade as expected in the second half
of 2018. Pellet premiums have remained at the high levels of 1H
2018 and cash generation has enabled debt reduction and funded
capital expenditure. Overall, the Group believes seaborne pellet
demand will be strong in 2019 while supply is expected to remain
constrained.
As a result of strong cash generation, the Board has declared a
special interim dividend of 6.6 US cents or US$40 million (2017
special interim dividend: 3.3 US cents or US$20 million).
The Board's strategy is to maintain a balance between
sustainable and attractive shareholder returns, investment in
growth opportunities and balance sheet strength.
The Board will consider the final dividend for 2018 ahead of the
full year results on 20 March 2019.
The dividend will be paid on 14 January 2019 to shareholders on
the register at the close of business on 14 December 2018. It will
be paid in UK Pounds Sterling, with an election to receive in US
Dollars.
For further information contact:
Ferrexpo:
Ingrid McMahon +44 207 389 8304
Maitland:
James Isola +44 207 379 5151
Notes to Editors:
Ferrexpo is a Swiss headquartered iron ore company with assets
in Ukraine. It has been mining, processing and selling high quality
iron ore pellets to the global steel industry for 40 years.
Ferrexpo's resource base is one of the largest iron ore deposits in
the world. In 2017, the Group sold 10.5 million tonnes of pellets
ranking it as the 3(rd) largest exporter of pellets to the global
steel industry with a market share of approximately 8.5%. Ferrexpo
has a diversified customer base supplying steel mills in Austria,
Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech
Republic, Turkey and Vietnam. Ferrexpo has a premium listing on the
main market of the London Stock Exchange under the ticker FXPO. For
further information, please visit www.ferrexpo.com
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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