5 Aug 2015 16:55

NLMK to recommend Q2 dividends totaling $80 mln-$120 mln - company head

MOSCOW. Aug 5 (Interfax) - The board of directors of Novolipetsk Steel plans to recommend to shareholders dividends for the second quarter of 2015 totaling $80 million-$120 million, NLMK President Oleg Bagrin told journalists on Wednesday.

"In this [second] quarter we had free cash flow of slightly more than $200 million, net profit of slightly less than $200 million. Correspondingly, the range of dividend payments, which we will recommend by the board of directors, will amount to approximately $80 million-$120 million, which fully corresponds to the dividend policy," Bagrin said.

NLMK paid 1.64 rubles or $0.0298 a share or a total of 9.8 billion rubles ($178.7 million) for Q1 2015, so in dollar terms, the Q2 dividends could fall 33%-55%.