Ferrexpo (FXPO) - Modest Special Dividend declared
Owing to continuing strong performance and forecasts of good demand for pellets next year, the Ukrainian iron ore miner is to pay, on 15th January, a special dividend of 3.3 cents per share (/share). This is in addition to the 3.3 cent interim dividend. They have a policy of paying 6.6 cents/share per annum, but will pay more as debt comes down and if iron ore remains strong.Ferrexpo is an iron ore pellet producer. Co. produces, develops and markets its product for sale to the metallurgical industry. Co. operate two mines and a processing plant near Kremenchug in Ukraine, and an interest in a port in Odessa. Co. also owns logistics assets in Austria which operate a fleet of vessels operating on the Rhine and Danube waterways and an ocean-going vessel. Co.'s operations are integrated from iron ore mining through to iron ore concentrate and pellet production and subsequent logistics. Co.'s mineral properties lie within the Kremenchug Magnetic Anomaly and are being extracted at the Gorishne-Plavninskoye and Lavrikovskoye and Yeristovskoye deposits.
Whitman Howard is an independent institutional stockbroking and investment banking business focused on servicing the needs of our corporate clients and institutional investor base.
The company began trading in 2011 with a team of highly experienced market professionals and the goal of building a leading capital markets business in an entrepreneurial environment.
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