Ferrexpo PLC Announcement of Interim Dividend (3144N)
31 Mai 2022 - 8:01AM
UK Regulatory
TIDMFXPO
RNS Number : 3144N
Ferrexpo PLC
31 May 2022
31 May 2022
Ferrexpo plc
("Ferrexpo" or the "Company" or the "Group")
Announcement of Interim Dividend
Ferrexpo plc (LSE: FXPO), the world's third largest exporter of
high grade iron ore pellets to the global steel industry, with
operations in central Ukraine, announces that the Group's Board of
Directors has declared an interim dividend of 13.2 US cents per
Ordinary Share in respect of the 2022 financial year.
The interim dividend announced today reflects the continued
operational performance by the Ferrexpo business and favourable
market demand for the Group's iron ore products. The Group
continues to closely monitor the availability of the logistics
network in Ukraine, however, noting the complex and changeable
nature of the current operating environment for both the supply of
key consumables and delivery of products to customers.
This is the first dividend announced by the Group in respect of
the 2022 financial year. Today's news follows the announcement of
the final dividend for the 2021 financial year, which has been
submitted for approval by shareholders at the Group's Annual
General Meeting, which is to be held on 15 June 2022.
The interim dividend announced today will be paid on 28 June
2022 to the Group's shareholders on the register as at the close of
business on 10 June 2022. It will be paid in UK Pounds Sterling,
with an election to receive in US Dollars.
Jim North, CEO of Ferrexpo commented:
"Throughout the invasion of Ukraine, which began in February
2022, we have remained focused on the safety and well-being of our
workforce, whilst also maintaining business continuity, enabling us
to deliver value for all of our stakeholders. Our operations are
currently benefiting from market conditions that are favourable for
high grade forms of iron ore, such as those produced by the Group.
As a result, our business continues to provide employment
opportunities for our workforce, local community and national
support through the Ferrexpo Humanitarian Fund, the payment and
prepayment of taxes, and shareholder returns for investors that
have continued to support Ferrexpo during the invasion of
Ukraine.
"We are committed to continuing our balanced approach to capital
allocation, with investments to help grow production, improve
product quality and reduce carbon emissions, all expected to
increase following the cessation of hostilities in Ukraine."
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 and a premium listing on the London Stock Exchange in
the FTSE 250 index (ticker FXPO). The Group produces high grade
iron ore pellets, which are a premium product for the global steel
industry and enable reduced carbon emissions and increased
productivity for steelmakers when the Group's iron ore pellets are
converted into steel, compared to more commonly traded forms of
iron ore. Ferrexpo's operations have been supplying the global
steel industry for over 50 years, and in 2021 the Group produced
11.2 million tonnes of iron ore pellets, placing Ferrexpo as the
world's 3(rd) largest exporter of pellets to the global steel
industry with a market share of approximately 9%. The Group has a
global customer base comprising of premium steel mills around the
world, which includes steel mills in Austria, Germany, Japan, South
Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam
and America. For further information, please visit www.ferrexpo.com
.
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END
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