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Ferrexpo PLC, which mines for iron in central Ukraine, on Tuesday declared an interim dividend for 2022 of 13.2 US cents per share.
Last year, Ferrexpo declared an interim dividend of 39.6 US cents, compared to 13.2 cents in 2020. Total dividends paid for 2021 were 46.2 cents, down from 85.8 cents for 2020.
The Baar, Switzerland-headquartered firm said the interim dividend announced on Tuesday reflects ‘favourable’ market demand for its iron ore products.
Chief Executive Officer Jim North said: ‘Our operations are currently benefiting from market conditions that are favourable for high-grade forms of iron ore, such as those produced by the group. As a result, our business continues to provide employment opportunities for our workforce, local community and national support through the Ferrexpo Humanitarian Fund, the payment and prepayment of taxes, and shareholder returns for investors that have continued to support Ferrexpo during the invasion of Ukraine.’
The company has over 10,000 workers in Ukraine and predicts significant uncertainty in its near-term outlook due to the war.
Ferrexpo shares were up 0.5% at 178.46 pence each on Tuesday morning in London.
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