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Ferrexpo raises 2017 dividend, sees better demand this year

Reuters - UK Focus

LONDON, March 21 (Reuters) - Iron ore pellet producer Ferrexpo (Other OTC: FEEXF - news) raised its 2017 dividend by 150 percent on Wednesday as earnings jumped on stronger demand.

The London-listed firm said 2017 underlying earnings before interest, tax, depreciation and amortisation (EBITDA) rose 47 percent to $551 million.

Dividends for 2017 reached 16.5 cents from 6.6 cents a year earlier, including a final and special dividend.

"Ferrexpo expects to benefit from higher pellet premiums in 2018, reflecting agreements with customers and strong demand for high quality pellets," the company said in a statement.

(Reporting by Zandi Shabalala; editing by Jason Neely)