Metalloinvest declares dividends
Moscow, Russia - 22 July 2020 - Metalloinvest ("the Company"), a leading global iron ore and HBI producer and supplier, and one of the regional producers of high-quality steel, has announced its dividends in the amount of 116.5 billion roubles.
Pavel Mitrofanov, Chairman of the Finance, Budget and Strategy Committee of the Board of Directors, commented:
"To achieve our objective of improving the Company's financial profile, the shareholders of Metalloinvest have made the decision to reduce a significant share of intragroup loans. Thereby, the major part of declared dividends for H1 2020 in the total amount of 116.5 billion roubles will be returned to the Company's balance."
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Metalloinvest is a leading global iron ore and merchant HBI producer and supplier, and one of the regional producers of high-quality steel. The Company has the world's second-largest measured iron ore reserve base and is one of the lowest-cost iron ore producers.
Metalloinvest is wholly owned by Holding Company USM LLC. Alisher Usmanov is the major beneficiary of Holding Company USM LLC (49%).