Ferrexpo increased the amount of projected dividends up to $80 million

British Ferrexpo plc, with mining and processing assets located in Ukraine, is going to pay some $80 million in dividends for FY 19, according to the company’s media office.

On 2 January, Ferrexpo announced plans to pay special interim dividends of $0.066 per share. In August, the company announced its intention to pay ordinary interim dividends of $0.066 per share.

Hence, to date, total dividends declared in respect of FY19 amount to $0.132 per share.

“The special dividend reflects the Group’s strong cash generation ability and the Board’s strategy to maintain a balance between sustainable and attractive shareholder returns, investment into growth,” Ferrexpo explained.

The company will pay special interim dividends to shareholders on 17 January 2020.

The final amount of dividends for FY19 will be approved by Ferrexpo’s Board before announcing full-year performance on 18 March 2020.

As reported earlier, the annual meeting of shareholders of Ferrexpo plc approved a record big amount of dividends following strong cash generation in 2018 — $0.231 per share. This is 40% higher than that in FY17 ($0.165 per share).

Ferrеxpo plc holds 100% of shares in Ferrexpo AG, which, in turn, owns 100% of shares in Poltava Mining and 100% of shares in Yeristovo Mining. In 2018, the company produced 10.6 million tons of iron ore pellets.

Shares of Ferrexpo plc are listed on the London Stock Exchange.