NLMK Group shareholders approved the decision not to pay dividends at the company's annual meeting held today. The company has not paid dividends since the end of 2021.
At the end of last year, the company's board of directors advised shareholders to consider paying a dividend of 2.6 rubles per share for 9 months of 2022, but the payment was not approved by the shareholders.
The company did not disclose its 2022 financial statements. Under its dividend policy, NLMK pays shareholders 100% free cash flow (FCF) if their net debt to EBITDA ratio is less than or equal to 1x.
The updated structure of NLMK's board of directors was not disclosed.
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