Ferrexpo PLC on Wednesday posted an improved profit for 2020 and proposed a further special interim dividend.
The FTSE 250 iron-ore pellet producer made a pretax profit of $747.9 million last year, up from $459.6 million in 2019.
Revenue increased 13% to $1.70 billion, reflecting stronger production volumes and destocking.
Underlying Ebitda rose 46% to $859 million, it said.
Ferrexpo declared a special interim dividend of 39.6 cents a share, bringing the full-year total to 72.6 cents–up from 19.8 cents in 2019. In addition, the board is yet to consider a final dividend in respect of 2020.
For 2021, Ferrexpo said that it expects to deliver further increases in production, as pellet output is likely to be higher in the second half, driven by capacity upgrades.