18 January 2024
Ferrexpo plc
("Ferrexpo" or the "Company" or the "Group")
Interim Dividend Announcement
Ferrexpo plc (LSE: FXPO), producer of premium iron ore pellets for the transition to lower carbon and green steel is pleased to announce an interim dividend of 3.3 US cents. The Group performed well in the second half of 2023, production optimisation together with an improved pricing environment has allowed the Board to consider an interim dividend. The Group has also approved a salary increase and bonus payment for its workforce in Ukraine as well as continued expenditure under its humanitarian fund.
Commenting on the announcement, Lucio Genovese, Executive Chair said:
"We exceeded our expectations in 2023 thanks to improved demand, production optimisation and higher iron ore prices. After paying taxes, maintenance and expansion capital, our year end financial position is stronger than at the start of the year. The new year has also started well for the iron ore industry with signs of an increase in pellet demand, providing the confidence to restart a second pellet line to meet export demand.
The Group remains committed to supporting all stakeholders in Ukraine, the Poltava region and the local communities where it operates. We are pleased to announce that we are providing a bonus payment and wage increase for our Ukrainian workforce and will continue to spend under the Company's humanitarian fund for 2024."
The interim dividend announced today will be paid on 23 February 2024 to shareholders on the register at the close of business on 26 January 2024. It will be paid in UK Pounds Sterling, with an election to receive in US Dollars.
For further information, please contact:
Ferrexpo: |
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Nick Bias Ira Flyunt |
+44 (0)20 7389 8305 / +44 (0)7733 177 831 +44 (0)20 7389 8300 |
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Tavistock: |
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Jos Simson Gareth Tredway |
+44 (0)20 7920 3150 / +44 (0)7899 870 450 |