Never miss an issue of Master Investor Magazine – sign-up now for free!
Iron miner Ferrexpo (LON:FXPO) has announced a special dividend of 6.6 US cents per share as a result of strong cash generation during the second half of 2018. Pellet production and pricing has remained robust which has allowed debt levels to be reduced and the company believes that these trends will be maintained heading in to 2019.
The management reiterated its strategy of balancing attractive shareholder returns with investment in growth opportunities and said the final dividend will be considered ahead of the publication of the full year results in March.
The price of shares in Ferrexpo climbed by 2.58% to 188.70p.