Notice of AGM, Annual Report and Final Dividend
https://www.investegate.co.uk/ferrexpo-plc--fxpo-/...04160700067102V/
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Proposed Final Dividend for 2020
The Board of Directors ("Board") of Ferrexpo is pleased to propose a final ordinary dividend for the 2020 financial year end of 13.2 US cents per share (final ordinary dividend for 2019: 3.3 US cents per share), for approval by shareholders at the Group's AGM on 27 May 2021. The dividend proposed today reflects the current strength of the Group's balance sheet, robust iron ore prices and pellet premiums. Total dividends announced and proposed in respect of 2020 are therefore 85.8 US cents per share (2019: 19.8 US cents per share), with this increase in shareholder returns indicative of the ongoing strength of the Group's operations and balance sheet, resilience of the business throughout the global COVID-19 pandemic and broader iron ore market conditions. After deducting special interim dividends announced in 1Q 2021, under the revised terms of the Group's major bank debt facility, the remaining total available distributable reserves in 2021, subject to relevant thin capitalisation rules and company law distribution requirements, will be the equivalent of approximately 29.9 US cents per share [1] . If approved by shareholders at the AGM , payment of the final ordinary dividend will be made on 1 July 2021 to those shareholders on the register at the close of business on 18 June 2021. Dividends will be paid in UK Pounds Sterling, with an election to receive in US Dollars.
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