Raspadskaya board recommends 2.7 rbl/share in Jan–Jun divs

MOSCOW, Aug 21 (PRIME) -- The board of directors of Russian coal producer Raspadskaya has recommended paying 2.7 rubles per common share in dividends for January–June, as seen by PRIME in the company’s materials on Friday.

The record date is October 15.

The company said in March 2019 that it could start paying dividends at a net debt/EBITDA (earnings before interest, taxes, depreciation and amortization) ratio of no more than 2x. The minimum annual payment would amount to U.S. $50 million and was to be paid in two tranches worth at least $25 million for the first half of the year and for the entire financial year, Raspadskaya said then.

Raspadskaya is part of U.K.-based steel and mining giant Evraz, which operates mainly in Russia.

(73.7711 rubles – U.S. $1)

End