Announcement of Interim Dividend

RNS Number : 3144N

Ferrexpo PLC

31 May 2022

 

 

31 May 2022     

Ferrexpo plc

("Ferrexpo" or the "Company" or the "Group")

Announcement of Interim Dividend

Ferrexpo plc (LSE: FXPO), the world's third largest exporter of high grade iron ore pellets to the global steel industry, with operations in central Ukraine, announces that the Group's Board of Directors has declared an interim dividend of 13.2 US cents per Ordinary Share in respect of the 2022 financial year.

The interim dividend announced today reflects the continued operational performance by the Ferrexpo business and favourable market demand for the Group's iron ore products. The Group continues to closely monitor the availability of the logistics network in Ukraine, however, noting the complex and changeable nature of the current operating environment for both the supply of key consumables and delivery of products to customers.

This is the first dividend announced by the Group in respect of the 2022 financial year. Today's news follows the announcement of the final dividend for the 2021 financial year, which has been submitted for approval by shareholders at the Group's Annual General Meeting, which is to be held on 15 June 2022.

The interim dividend announced today will be paid on 28 June 2022 to the Group's shareholders on the register as at the close of business on 10 June 2022. It will be paid in UK Pounds Sterling, with an election to receive in US Dollars.

Jim North, CEO of Ferrexpo commented:

"Throughout the invasion of Ukraine, which began in February 2022, we have remained focused on the safety and well-being of our workforce, whilst also maintaining business continuity, enabling us to deliver value for all of our stakeholders. Our operations are currently benefiting from market conditions that are favourable for high grade forms of iron ore, such as those produced by the Group. As a result, our business continues to provide employment opportunities for our workforce, local community and national support through the Ferrexpo Humanitarian Fund, the payment and prepayment of taxes, and shareholder returns for investors that have continued to support Ferrexpo during the invasion of Ukraine.

"We are committed to continuing our balanced approach to capital allocation, with investments to help grow production, improve product quality and reduce carbon emissions, all expected to increase following the cessation of hostilities in Ukraine."

For further information, please contact:

Ferrexpo:
Rob Simmons	[e-mail]	[phone]
Tavistock:
Jos Simson Gareth Tredway	[e-mail]	[phone] [phone]

About Ferrexpo:

Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine and a premium listing on the London Stock Exchange in the FTSE 250 index (ticker FXPO). The Group produces high grade iron ore pellets, which are a premium product for the global steel industry and enable reduced carbon emissions and increased productivity for steelmakers when the Group's iron ore pellets are converted into steel, compared to more commonly traded forms of iron ore. Ferrexpo's operations have been supplying the global steel industry for over 50 years, and in 2021 the Group produced 11.2 million tonnes of iron ore pellets, placing Ferrexpo as the world's 3^rd largest exporter of pellets to the global steel industry with a market share of approximately 9%. The Group has a global customer base comprising of premium steel mills around the world, which includes steel mills in Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam and America. For further information, please visit www.ferrexpo.com .

 

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