By KYIV. Jan 18 (Interfax-Ukraine) – Mining company Ferrexpo with assets in Ukraine will pay interim dividends for 2023 in the amount of 3.3 U.S. cents per share.
According to a press release, the group performed well in the second half of 2023, with optimization of production coupled with improved pricing conditions allowing the board to consider paying interim dividends.
In addition, the group approved salary and bonus increases for its employees in Ukraine, as well as continued spending under its humanitarian fund.
“We exceeded our expectations in 2023 thanks to improved demand, production optimization 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, said Executive Chair Lucio Genovese.
“The group remains committed to supporting all stakeholders in Ukraine, 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,” he said.
“The interim dividend announced today will be paid on February 23, 2024 to shareholders on the register at the close of business on January 26, 2024. It will be paid in UK Pounds Sterling, with an election to receive in US Dollars,” the report says.
