Ferrexpo PLC Announcement of Interim Dividend (4166W)
22 Dezember 2021 - 8:00AM
UK Regulatory
TIDMFXPO
RNS Number : 4166W
Ferrexpo PLC
22 December 2021
22 December 2021
Ferrexpo plc
("Ferrexpo" or the "Company" or the "Group")
Announcement of Interim Dividend
Ferrexpo plc (LSE: FXPO), the world's 3(rd) largest exporter of
high grade iron ore pellets to the global steel industry, is
pleased to announce the approval by the Group's Board of Directors
("Board") of an interim dividend of 6.6 US cents per Ordinary
Share.
The interim dividend announced today reflects the continued
strong operational and financial performance of the Group in
respect of the 2021 financial year, in addition to the positive
outlook for high grade iron ore pellets, with pellet premiums
remaining at elevated levels relative to historic levels. Today's
dividend announcement also reflects the strength of the Group's
balance sheet, with the Group transitioning to a net cash position
in 2021, and follows the Group repaying the remaining balance of
its long term debt facility in June 2021.
Following payment of the dividend announced today, total
dividends paid to date in respect of performance in 2021 will be
46.2 US cents per Ordinary Share.
The interim dividend announced today will be paid on 28 January
2022 to the Group's shareholders on the register as at the close of
business on 7 January 2022. It will be paid in UK Pounds Sterling,
with an election to receive in US Dollars.
Jim North, Interim Group Chief Executive Officer, said:
"Ferrexpo has long sought to apply a balanced approach to
capital allocation, and today's announcement is a continuation of
this approach, with the Group seeking to provide shareholder
returns whilst also investing in organic growth opportunities.
Today's announcement follows on from the announcement of our
Shareholder Returns Policy in November 2021, which outlined the
level of dividends that we expect to issue in the normal course of
business, with the Group's strong operational and financial
performance enabling additional dividends in 2021.
"We have seen continued resilience in the premiums paid for high
grade iron ore in 2021, as well as elevated pellet premiums, with
both factors driven by the global push to decarbornise steelmaking.
With these market factors collectively justifying our long-held
strategy to invest in higher grade iron ore pellet production. We
will continue to pursue a balance of growth in both volumes and
pellet quality, alongside shareholder returns, as we look towards
the next phase of Ferrexpo's development."
For further information, please contact:
Ferrexpo:
Rob Simmons r.simmons@ferrexpo.ch +44 207 389 8305
Tavistock:
Jos Simson +44 207 920 3150
Gareth Tredway ferrexpo@tavistock.co.uk +44 7785 974 264
About Ferrexpo:
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 over 40 years. In
2020, the Group produced 11.2 million tonnes of iron ore pellets, a
7% increase on the prior year. The Company is ranked as the world's
3(rd) largest exporter of pellets to the global steel industry with
a market share of approximately 9%. Ferrexpo has a diversified
customer base supplying steel mills in Austria, Germany, Japan,
South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey,
Vietnam and America. 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 .
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DIVFFFVIFELLFIL
(END) Dow Jones Newswires
December 22, 2021 02:00 ET (07:00 GMT)
Ferrexpo (LSE:FXPO)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Ferrexpo (LSE:FXPO)
Historical Stock Chart
Von Jul 2023 bis Jul 2024