Raspadskaya holders approve paying 2.5 rbl/share in JanЦJun divs - Metals & Mining - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Raspadskaya holders approve paying 2.5 rbl/share in JanЦJun divs

MOSCOW, Oct 2 (PRIME) -- The shareholders of Russian coal producer Raspadskaya have approved paying 2.5 rubles per common share in dividends for JanuaryЦJune, 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 JanuaryЦJune 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 Ц U.S. $1)

End

02.10.2019 13:01
 
 
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