Совет директоров ММК принял решение о выплате дивидендов 2,752 рубля на акцию
Магнитогорский металлургический комбинат (ММК): Финансовые решения и дивиденды
In recent news, the Board of Directors of the Russian steel company MMK has recommended dividends for the year 2023. The recommended dividend amount per share is 2.752 rubles. Shareholders meeting is set to take place on May 30 in absentia, with dividend entitlements determined by June 10.
The decision to reinstate dividends in 2023 comes after a pause in dividend payments in 2022 due to Moscow’s military special operation in Ukraine and subsequent western sanctions against businesses and companies.
MMK’s previous dividend payment in 2021 amounted to $1.2 billion or 89.3 billion rubles. Despite initial plans to pay an additional 3.55 rubles per share in dividends for the year, this recommendation was revoked in May 2022. The company also refrained from paying dividends for the year 2022.
According to MMK’s dividend policy, the company allocates dividends based on free cash flow, with at least 100% allocated if the net debt to EBITDA ratio is less than 1, and at least 50% if it exceeds 1.
Looking ahead, the reinstatement of dividends in 2023 signals a shift in MMK’s financial strategy post-sanctions and presents a positive outlook for shareholders.
