Severstal could slash Q1 dividends 89%
MOSCOW. May 17 (Interfax) - Directors at Severstal are recommending a dividend of 0.43 rubles a share for Q1 2013, the steel company said in a statement.
This would be 89.4% less than the 4.07 rubles a share the company paid for the same period of last year.
The company's annual shareholders meeting is set for June 13, and the register closed April 26, inclusive.
At the AGM, shareholders will vote on dividends for Q4 2012 of 1.89 rubles per share.
For the same period of 2011, Severstal paid 3.56 rubles per share, meaning that dividends for the final quarter of 2012 could drop 47% year-on-year.
For Q2 2012 the company paid 1.52 rubles, for Q3 3.18 rubles. The total payout for Q1-Q3 was about 7.34 billion rubles.
In 2011, Severstal paid out around 14.6 billion rubles in dividends, so the entire payout for 2012 could be 38.9% less.