Ferrexpo interim 2020 dividend of 6.6 US cents

Iron Ore

Ferrexpo plc (LON:FXPO) has announced an interim 2020 dividend of 6.6 US cents, payable on 3 July 2020 to shareholders on the register as of 19 June 2020.

The Group continues to perform strongly. Pellet production as of 31 May 2020 was up 6% compared to the first five months of 2019. Our operating subsidiaries have taken precautions to protect our workforce and local communities against the COVID-19 virus and, to date, there has been no adverse impact on operations.

As of 31 May 2020, sales volumes had increased by approximately 21% compared to the same period in 2019. Higher sales have been driven by a strong production performance, de-stocking and the Ferrexpo’s ability to offset weaker demand in Europe through increased sales to Asia. The iron ore fines price has remained resilient year to date while lower freight rates and production costs have compensated for weaker pellet premiums. 

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