At a meeting held on 3 March 2017, NLMK Group’s (LSE:NLMK) Board of Directors recommended NLMK shareholders approve payment of 4Q’16 dividends at the upcoming Annual General Shareholder Meeting (AGM) which will be held on 02 June 2017.

NLMK Group’s Board of Directors recommended NLMK shareholders approve 4Q’16 dividends of RUB 3.38 per share.

2016 accrued dividends amounted to RUB 9.22 per share, which is equivalent to 97% of NLMK Group’s net profit, or 83% of the Company’s free cash flow based on its 2016 IFRS consolidated results.

Dividend yield* on 2016 accrued dividends will total approximately 8%.

The list of persons entitled to participate at the AGM will be formed on the basis of the NLMK Shareholder Register as of 8 May 2017.

NLMK Board of Directors has also recommended that the General Shareholder Meeting set the date upon which the shareholders entitled to 4Q’16 dividends are to be determined as 14 June 2017.

For more information about NLMK Group’s dividend policy please go to NLMK’s site.

* * Dividend yield is calculated as the sum of dividends for the period, divided by the sum of the company’s market capitalization on the last day of the relevant period, y-o-y.