Severstal’s board recommends paying 27.72 rbl/share in Oct–Dec divs

MOSCOW, Feb 1 (PRIME) -- The board of directors of Russian steelmaker Severstal has recommended paying 27.72 rubles per share, almost flat on the year, in dividends for October–December 2017, the company said in a statement on Thursday.

The shareholders will discuss the recommendation at a general meeting scheduled for June 8, 2018. The record date for the dividends is June 19.

In 2017, Severstal paid 35.61 rubles per share or a total of 29.83 billion rubles in dividends for July–September, 22.28 rubles per share or a total of 18.66 billion rubles in dividends for April–June, and 24.44 rubles per share or a total of 20.47 billion rubles in dividends for January–March.

The combined dividend payout for 2017 may reach 110.05 rubles per share, up from 80.6 rubles per share paid in dividends for 2016.

Alexei Mordashov, chairman of the board of directors of Severstal, holds 77% in the company.

(56.1840 rubles – U.S. $1)

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