Ferrexpo announces interim dividend of USD 0.033/share

Ferrexpo (FXPO) announced an interim dividend of USD 0.033 per share for 1H09, the company said in an announcement on Friday. The dividend will be payable on December 18 to shareholders that register by November 13. Michael Abrahams, Ferrexpo’s chairman, said the board felt it was appropriate to continue with an interim dividend, reflecting the group’s resilience and profitability through the downturn. Andriy Gerus: We think that Konstantin Zhevago, owner of a 51% stake in Ferrexpo, was the most interested in dividends payout as he needs the funds to finance his other businesses (banking & machine building companies). We do not expect substantial growth in the stock on this news as the current dividend yield amounts to only 1.1%.