PJSC Magnitogorsk Iron and Steel Works: MMK announces the EGM results

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PJSC Magnitogorsk Iron & Steel Works ("MMK", or "the Group") (MICEX-RTS: MAGN; LSE: MMK), one of the world's largest steel producers, announces that the Extraordinary General Meeting of Shareholders ("the EGM") was held in absentia on 11 September 2020.

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Retrieved on: 
Wednesday, September 16, 2020 - 8:05am
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Key Points: 
  • PJSC Magnitogorsk Iron & Steel Works ("MMK", or "the Group") (MICEX-RTS: MAGN; LSE: MMK), one of the world's largest steel producers, announces that the Extraordinary General Meeting of Shareholders ("the EGM") was held in absentia on 11 September 2020.
  • Based on the results of H1 2020, dividends will be paid in the amount of RUB 0.607 (incl.
  • In 2019, MMK produced 12.5 mln tonnes of crude steel and 11.3 mln tonnes of commercial steel products.
  • Subscribe to our official MMK channel in Telegram , to be the first to know about key MMK news.



PJSC Magnitogorsk Iron and Steel Works (MMK)


PJSC Magnitogorsk Iron and Steel Works: MMK announces the EGM results

16-Sep-2020 / 08:56 CET/CEST

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.

The issuer is solely responsible for the content of this announcement.


MMK announces

THE EGM results

 

16 September 2020

Magnitogorsk, Russia

PJSC Magnitogorsk Iron & Steel Works ("MMK", or "the Group") (MICEX-RTS: MAGN; LSE: MMK), one of the world's largest steel producers, announces that the Extraordinary General Meeting of Shareholders ("the EGM") was held in absentia on 11 September 2020. The EGM approved the payment of dividends for H1 2020.

Based on the results of H1 2020, dividends will be paid in the amount of RUB 0.607 (incl. tax) per share.

The H1 2020 dividend record date was determined as 23 September 2020.

 

About MMK

MMK is one of the world's largest steel producers and a leading Russian metals company. The Group's operations in Russia include a large steel-producing unit encompassing the entire production chain, from the preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products with a predominant share of high-value-added products. In 2019, MMK produced 12.5 mln tonnes of crude steel and 11.3 mln tonnes of commercial steel products.

ММК is an industry leader in terms of production costs and margin. MMK Group had revenue in 2019 of USD 7,566 mln and EBITDA of USD 1,797 mln. MMK's debt load is the lowest for the industry. Net debt/EBITDA ratio was -0.13х at the end of 2019. The Group's investment-grade rating is confirmed by the leading global rating agencies Fitch, Moody's, S&P.

MMK's ordinary shares are traded on Moscow Exchange, while its depositary receipts are traded on the London Stock Exchange. Free float amounts to 15.7%.

Subscribe to our official MMK channel in Telegram, to be the first to know about key MMK news.

 

 

Investor Relations Department

Veronika Kryachko
+7 (915) 380-62-66 kryachko.vs@mmk.ru

 

 

media contacts

Dmitriy Kuchumov  
+7 (499) 238-26-13 kuchumov.do@mmk.ru

Oleg Egorov
+7 (499) 238-26-13
egorov.oa@mmk.ru

 

 

KEY UPCOMING EVENTS IN 2020

Financial calendar

 

25 September

Virtual conference for investors, Sova Capital

6 October

Virtual conference for retail investors, Tinkoff

13 October

Q3 and 9M 2020 Trading Update

22 October

Q3 and 9M 2020 IFRS financials

29 October -
3 November

MOEX international investment forum




ISIN: US5591892048
Category Code: DIV
TIDM: MMK
LEI Code: 253400XSJ4C01YMCXG44
Sequence No.: 84203
EQS News ID: 1132235



 
End of Announcement EQS News Service

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