Ferrexpo declares special interim DPS of USc 6.6

Ukraine’s largest iron ore pellet exporter Ferrexpo
(FXPO LN) will pay a special interim dividend of USc 6.6 per share on Oct. 8, the
company reported in a Sept. 11 release. The record date for the payment will be
Sept. 25.

Recall, in June Ferrexpo declared an interim dividend of USc 6.6 per share for 2020,
followed by a declaration of an additional interim dividend of USc
6.6 per share in August.

Ferrexpo’s dividend policy is to pay USc 6.6 (USc 3.3
interim and 3.3 USc final) per share of sustainable yearly dividends and, if
appropriate, USc 6.6 per share of special dividends per year.

Ferrexpo’s cash generation remains strong, and so far
in 2H20 its operations have performed well and demand for its pellets remains
strong, according to the release.

Dmytro Khoroshun: Ferrexpo is likely to continue paying dividends above the yearly level
of USc 13.2 per share foreseen in its policy for the rest of 2020 and beyond,
as long as the iron ore markets remain strong and Ferrexpo’s project of
capacity expansion beyond the current 12 mmt remains on the backburner.