2nd Jan 2020 08:16
(Alliance News) - Iron ore pellet maker Ferrexpo PLC on Thursday declared an unchanged special interim dividend for 2019.
Baar, Switzerland-based Ferrexpo, which mines in Ukraine, will return 6.6 US cents as a special dividend, the same as the year before. That payout had been double the special dividend the year before that.
This special dividend is on top of an interim dividend for 2019 of 6.6 cents, for 13.2 cents in total, as well as an as-of-yet undecided final dividend. For 2018, Ferrexpo paid 23.1 cents a share.
Shares were up 1.0% on Thursday morning in London at a price of 160.55 pence each.
At the end of October of Chief Executive Kostyantin Zhevago temporarily stepped down, remaining as a non-executive director. Chief Financial Officer Chris Mawe was made acting CEO at the same time.
Zhevago, Bloomberg reported earlier that month, is wanted by Ukrainian investigators after failing to report for questioning about former business activities. They believe he has committed "large-scale" money laundering and embezzlement, Bloomberg added.
Zhevago "strongly denies any allegations of wrongdoing", Ferrexpo had said in response.
Ferrexpo has been grappling with an investigation into the use of funds the company gave to Ukrainian charity Blooming Land.
By George Collard; [email protected]
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