6th Dec 2018 09:04
LONDON (Alliance News) - Iron-ore mining company Ferrexpo PLC said Thursday that it will return USD40 million to shareholders via a special dividend payment due to strong cash generation.
The company has declared a special interim dividend of 6.6 cents per share for 2018, versus 3.3 cents declared in 2017. The special payout will be paid on January 14 to shareholders on the register at the close of business on Friday next week.
The company said it has continued to trade as expected in the second half of 2018, with iron pellet premiums remaining at the high levels seen in the first half and strong cash generation enabling debt reduction and capital expenditure.
Ferrexpo continues to believe seaborne pellet demand to be strong in 2019 on the back of constrained supply.
Shares in the company were trading 1.3% higher at 186.40 pence each.
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