21 May 2004 01:42
Severstal to pay 28 rubles a share for Q4, 42 rubles for Q1 (Part 2)
MOSCOW. May 21 (Interfax) - Shareholders of Severstal accepted dividends of 28 rubles on common shares, par value
0.25 rubles, for the fourth quarter of 2003, the steel major said in a press release following Friday's AGM.
The company will also pay an interim dividend of 42 rubles for the first quarter of 2004.
The dividend payments should start on May 24.
Remaining profits from last year will be used to top up working
Severstal paid interim dividends of 194 rubles for the first half of 2003 and 205 rubles for the first three quarters
of 2003.
capital.
Dividends were 72 rubles on common shares, par value 0.25 rubles a share, for 2002.
The shareholders also voted in favor of splitting common shares at a coefficient of 25. In other words, the
company's 22,074,192 common shares, par value 0.25 rubles each, will be converted into 551,854,800 common shares,
par value 0.01 rubles each. Charter capital will be unchanged at 5.519 million rubles.
By doing this, the company expects to make shares accessible to the retail investor besides institutional investors
and to increase the company's liquidity.
Management and affiliated companies control more than 80% of the shares in Severstal. The Cyprus-registered Jadeglide
Limited owns 58.83% of the common shares, ZAO Paritet of Cherepovets owns 13.93%, ZAO Invest, also of Cherepovets, owns
10% and 7%-8% of the shares are traded on the free market. [RU ASIA EUROPE EEU EMRG STL DIV CORA] pr
[Interfax] |
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