9 Aug 2018 15:07

Evraz CEO: next distribution to be final dividend for 2018 under baseline scenario

MOSCOW. Aug 9 (Interfax) - Evraz will next pay dividends upon the conclusion of 2018 under the baseline development scenario, CEO Alexander Frolov said during a conference call.

"The baseline scenario is dividends for 2018. Any additional interim dividends will of course depend on how good or indeed bad the market situation will be," he said.

The second interim dividend announced on Thursday - $0.4 per share - "is a fairly balanced situation" that reflects the current situation and the company's expectations up to the end of the year, Frolov said.

Commenting on the company's debt, Frolov said Evraz "is in a fairly comfortable zone in terms of net debt/EBITDA. We believe further reduction in the debt at the level of profitability that Evraz is currently demonstrating is probably not expedient. I think that as at the end of H1, we will also allocate the main cash resources for the payment of dividends," he said.