NLMK Board of Directors recommends dividends for Q4 2015 and Q1 2016

On 22 April 2016, NLMK Group held a meeting of the Board of Directors. Board recommended NLMK shareholders approve Q4 2015 and Q1 2016 dividends’ payment at the upcoming Annual General Shareholder Meeting (AGM) to be held on 3 June 2016.

The list of persons entitled to participate at the AGM is based on the NLMK Shareholder Register as of 15 April 2016.

Q4 2015 and Q1 2016 dividends recommended by the Board totaled 21,336 million rubles, including:
14,564 million rubles for Q4 2015 at 2.43 rubles per ordinary share;
6,772 million rubles for Q1 2016 at 1.13 rubles per ordinary share.

NLMK Board of Directors has also recommended that the General Shareholder Meeting set the date, upon which those shareholders entitled to the Q4 2015 and Q1 2016 dividends are to be determined, as 14 June 2016.

2015 accrued dividends amounted to 41,653 million rubles equivalent to 67% of NLMK Group’s net profit or 65% of the Company’s free cash flow based on its 2015 IFRS consolidated results. In 2015, dividend payments amounted to 20,677 million rubles.

Dividend yield on accrued dividends for FY2015 and Q1 2016 is 12.7% and 7.6% respectively.