MMK EGM approves dividends for Q2 2018
PJSC Magnitogorsk Iron and Steel Works ("MMK") announces that an Extraordinary General Meeting of shareholders ("the EGM") was held on 28 September 2018 with absentee voting.
Shareholders approved by majority vote a dividend on MMK's issued ordinary registered shares of RUB 1.589 (incl. tax) per share for the second quarter of 2018.
The dividend will be paid in cash by bank transfer within the period and in the manner stated by the Federal Law on Joint-Stock Companies.
The dividend record date is set as the close of trading on 9 October 2018.
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 2017, the company produced 12.9 million tonnes of crude steel and 11.6 million tonnes of commercial steel products. MMK Group had sales in 2017 of USD 7,546 million and EBITDA of USD 2,032 million.