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

·2-min read

PJSC Magnitogorsk Iron and Steel Works (MMK)
29-Dec-2020 / 08:00 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

 

29 December 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 25 December 2020. The EGM approved the payment of dividends for Q3 2020.

Based on the results of Q3 2020, dividends will be paid in the amount of RUB 2.391 (incl. tax) per share.

The Q3 2020 dividend record date was determined as 14 January 2021.

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

 

ESG DEPARTMENT

Yaroslava Vrubel
+7 982 282 9682 vrubel.ys@mmk.ru

 

Communications Department

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 2021

Financial calendar

 

12-14 January

CEEMEA Opportunities Conference, J.P. Morgan, online

26 January

Q4 2020 trading update

2 February

MMK Q4 2020 financial results under IFRS publication and conference call

MMK announces

THE EGM results

 

29 December 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 25 December 2020. The EGM approved the payment of dividends for Q3 2020.

Based on the results of Q3 2020, dividends will be paid in the amount of RUB 2.391 (incl. tax) per share.

The Q3 2020 dividend record date was determined as 14 January 2021.

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

 

ESG DEPARTMENT

Yaroslava Vrubel
+7 982 282 9682 vrubel.ys@mmk.ru

 

Communications Department

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 2021

Financial calendar

 

12-14 January

CEEMEA Opportunities Conference, J.P. Morgan, online

26 January

Q4 2020 trading update

2 February

MMK Q4 2020 financial results under IFRS publication and conference call

 

KEY UPCOMING EVENTS IN 2021

Financial calendar

 

12-14 January

CEEMEA Opportunities Conference, J.P. Morgan, online

26 January

Q4 2020 trading update

2 February

MMK Q4 2020 financial results under IFRS publication and conference call

ISIN:

US5591892048

Category Code:

DIV

TIDM:

MMK

LEI Code:

253400XSJ4C01YMCXG44

Sequence No.:

90462

EQS News ID:

1157671


 

End of Announcement

EQS News Service

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