MMK Magnitogorsk Iron & Steel Works (GDR)

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

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

14-Sep-2021 / 09:00 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

 

14 September 2021

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 10 September 2021. The EGM approved the payment of dividends for Q2 2021.

Based on the results of Q2 2021, dividends will be paid in the amount of RUB 3.530 (incl. tax) per share.

The Q2 2021 dividend record date was determined as 27 September 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 premium products. In 2020, MMK produced 11.6 mln tonnes of crude steel and sold 10.8 mln tonnes of commercial steel products.

ММK is an industry leader in terms of production costs and margins. Group revenue in 2020 totalled USD 6,395 mln, with an EBITDA of USD 1,492 mln. MMK boasts the industry's lowest debt burden. Net debt/EBITDA ratio was -0.06х at the end of 2020. The Group's investment-grade rating is confirmed by the leading global rating agencies Fitch, Moody's and S&P.

MMK's ordinary shares are traded on the Moscow Exchange, while its depositary receipts are traded on the London Stock Exchange. Free float amounts to 18.7%.

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Investor Relations Department

Veronika Kryachko
+7 (915) 380-62-66

 

ESG DEPARTMENT

Yaroslava Vrubel

 

Communications Department

Dmitriy Kuchumov  
+7 (499) 238-26-13

Oleg Egorov
+7 (499) 238-26-13

 

KEY UPCOMING EVENTS IN 2021

 

21 September

JPM Emerging Markets Credit Conference, online

22 September

Virtual conference for retail investors, Sberbank

23-24 September

Site visit for analysts and investors, Magnitogorsk

7 October

Virtual conference for retail investors, BCS

13 October

Q3 and 9M 2021 Trading Update

21 October

Q3 and 9M 2021 IFRS financials

 
ISIN: US5591892048
Category Code: DIV
TIDM: MMK
LEI Code: 253400XSJ4C01YMCXG44
Sequence No.: 122089
EQS News ID: 1233122

 
End of Announcement EQS News Service

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EN
14/09/2021

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