Raspadskaya board recommends no dividend payments for 2023

MOSCOW. March 1 (Interfax) - The board of directors of Raspadskaya is recommending that the company not pay dividends for 2023.

"Considering the high volatility in the sales markets and the geopolitical situation, as well as the financial results for the reporting period, the board of directors believes that the payment of dividends based on 2023 results will not serve the interests of the company and its shareholders," Raspadskaya said in a statement.

Raspadskaya has not paid dividends since the end of 2021.

The controlling shareholder of Raspadskaya is Evraz. Roman Abramovich, who owned 28.64% of Evraz at the end of 2021, is on the UK and EU sanctions lists, while Evraz is included in the UK list. Abramovich's partner Evgeny Shvidler and Evraz founders Alexander Abramov and Alexander Frolov are also sanctioned.