REG - Ferrexpo plc - Interim Dividend Announcement

FerrexpoAnnouncement

18/01/2024 07:00

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RNS Number : 1365A  Ferrexpo PLC  18 January 2024

 

 

 

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.

 

Contact:

For further information, please contact:

 Ferrexpo:
 Nick Bias        n.bias@ferrexpo.ch (mailto:r.simmons@ferrexpo.ch)           +44 (0)20 7389 8305 / +44 (0)7733 177 831

 Ira Flyunt       i.flyunt@ferrexpo.ch (mailto:i.flyunt@ferrexpo.ch)          +44 (0)20 7389 8300
 Tavistock:
 Jos Simson       ferrexpo@tavistock.co.uk (mailto:ferrexpo@tavistock.co.uk)  +44 (0)20 7920 3150 / +44 (0)7899 870 450

 Gareth Tredway

 

 

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 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. Before Russia's invasion of Ukraine in February 2022, the Group was the world's third largest exporter of pellets to the global steel industry. 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 (http://www.ferrexpo.com)
.

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