Pages 95 to 130
7.2 Grant Thornton UK LLP of 30 Finsbury Square, London EC2A 1AG are the current auditors of the Company. Deloitte LLP of 1 New Street Square, London EC4A 3HQ were the auditors for the Company up to the financial period to 30 March 2019.
8. dividend policy
8.1 The Board s dividend policy was most recently stated on page 6 in the Chairman s Statement contained in the 2020 Annual Report & Accounts which forms part of the Company s Public Record: The Company has not paid a dividend since 3 February 2012. The Directors do not expect to pay dividends until the business is returned to a sustainable and stable financial footing. The Directors understand the importance of optimising value for Shareholders and it is the Directors intention to return to paying a dividend as soon as this is possible under the Company s agreements with GBB and the pension trustees and as soon as the Directors believe it is financially prudent for the Group to do so .
Commenting, Mr. Lakshmi N. Mittal, ArcelorMittal Executive Chairman, said:
“2020 was a year of enormous challenge as countries, societies and businesses across the world grappled with the disruption caused by the COVID-19 pandemic. The impact on the steel industry was significant, but I am very proud of the resilience and enterprise shown by our people across the business which enabled ArcelorMittal to deliver a solid operating performance in times of adversity. We have fantastic teams across our operations.
Indeed, 2020 was a milestone year for the Company. Achieving our $7 billion net debt target marked the end of a long-term deleveraging program, and the start of a new phase which will allow the Company to focus on delivering sustainable shareholder returns as we continue to transform for the future. This process will be supported by changes we made to our portfolio, increasing the quality of its earnings potential, and by the investments we are making in high-growth projects
Basis of Presentation
This news release and accompanying financial statements are based on International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”), unless otherwise noted.
We make reference to
Funds from Operations (“FFO”). We define FFO as net income attributable to shareholders prior to fair value changes, depreciation and amortization, and deferred income taxes, and include realized disposition gains that are not recorded in net income as determined under IFRS. FFO also includes the company’s share of equity accounted investments’ FFO on a fully diluted basis. FFO consists of the following components:
FFO from Operating Activities represents the company’s share of revenues less direct costs and interest expenses; excludes realized carried interest and disposition gains, fair value changes, depreciation and amortization and deferred income taxes; and includes our proportionate share of FFO from
Daily Monitor
Thursday February 11 2021
Summary
Uganda could have done better and this is something that the banking industry regulator does not shy away from.
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Uganda has retained the 10th position in the Absa Africa Financial Markets Index (AFMI) involving 23 African countries.
The Absa Africa Financial Markets Index, is a toolkit for African countries seeking to strengthen their financial markets.
Speaking during the launch of AFMI report earlier in the week, Bank of Uganda Deputy Governor, Dr Michael Atingi-Ego noted that Uganda’s overall ranking of 10th from 2017 to date could be regarded by pessimists as stagnation, but for an optimist like himself, “it speaks to stability and resilience.”
iFabric Corp. Announces Record Q1 2021 Revenues and Earnings
MARKHAM, ON / ACCESSWIRE / February 11, 2021 /
iFabric Corp. ( iFabric or the Company ) (TSX:IFA.TO), today announced its results for its first quarter ended December 31, 2020. I am extremely proud of our first quarter performance which represents a testament to the relevancy of our technologies during this unique and tumultuous time. The capabilities of our class-leading technologies and high-quality apparel programs continue to resonate with our customers and their consumers both in-store and across multiple digital platforms, said Hylton Karon, President and CEO of iFabric. My sincere appreciation goes out to our global employees for their passion and extraordinary commitment to serving our customers in the midst of the ongoing pandemic, concluded Mr. Karon.