Metinvest to receive USD 107 mln in dividends from JV
5 July 2019
Southern Iron Ore, a joint venture of Ukraine’s
largest steel producer Metinvest (METINV), plans to declare UAH 7.13 bln (USD
274 mln) in dividends, according to the agenda of an EGM to be held on July 19.
The amount to be declared is against a part of its 2018 net profit, the company
said in the agenda, which was published on July 4.
The shareholders attending the EGM are asked to
delegate to the company’s supervisory board the rights to determine the record
date and the time period for the dividend payment.
Other items of the agenda include approving Southern
Iron Ore’s 2018 annual accounts and report.
Dmytro Khoroshun: Metinvest
owns 45.9% of Southern Iron Ore and should receive USD 107 mln after tax (15%)
in dividends.
We maintain our bullish view on METINV bonds.
