MOSCOW, Oct 2 (PRIME) -- The shareholders of Russian coal producer Raspadskaya have approved paying 2.5 rubles per common share in dividends for January–June, the company said in a statement on Wednesday.
The record date was set for October 20.
The company said in March that it can start paying dividends at a net debt/EBITDA (earnings before interest, taxes, depreciation and amortization) ratio of no more than 2. The minimum annual payment will amount to U.S. $50 million and will 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.
After a serious accident at one of its mines in 2010, Raspadskaya paid dividends only for January–June of 2011 of 5 rubles per share, or a total of 3.9 billion rubles.
Raspadskaya is part of U.K.-based steel and mining giant Evraz, which operates mainly in Russia.
(65.0670 rubles – U.S. $1)
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