Severstal set to pay 4.37 rubles per share for H1
MOSCOW. Aug 25 (Interfax) - The board of directors of Severstal has recommended that shareholders approve an interim dividend of 4.37 rubles per share (a total of 4.4 billion rubles or $152 million) for the first half of 2011, the company said in a statement.
Shareholders will vote on the measure at an extraordinary meeting on September 30.
Severstal paid 3.9 rubles per share for the first quarter of 2011 (4.2 billion rubles or $145 million). Thus, the company expects to pay a total of 8.27 rubles per share (8.6 billion rubles or $297 million) for the first half.
The ex-dividend date is August 24.
Severstal paid an interim dividend for the first nine months of 2009 equal to 4.29 rubles per share (7.3 billion rubles or about $237 million) and 2.042 rubles per share for the full year (about 2.4 billion rubles or $84.8 million).
Severstal charter capital totals 10.077 million rubles split into 1,007,701,533 ordinary shares.
Severstal has steel, coal, iron ore and gold assets in Russia, North America, Europe, Africa and Ukraine. Severstal's main beneficiary is the general director, Alexei Mordashov, with more than 82% of shares. About 18% are in free float.
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