In the first quarter of 2018, the increase in company sales and steel prices increased revenue by 23.8% year-on-year to US$2.06 billion.

According to MMK, on Tuesday, the company’s board of directors proposed a dividend of 0.801 rupees per share in the first quarter of 2018, and total dividends in the first quarter would reach 145 million US dollars, which is basically the same as the company’s 100% free cash flow in the quarter.

Olig Petropavlovsky, an analyst at BCS Global Markets, said: "MMK dividends are higher than expected but lower than peers, so investors will not transfer their investment preference to MMK."