following the results of 2007 the company will pay to shareholders almost 50 % of net profit
Active buying up of foreign actives and fast growth of a debt does not prevent Evraz to be generous to the shareholders. Following the results of 2007 the company will pay as dividends more than 1 mlrd dollars, or nearly so 50 % of the net profit. The most part of this sum - about 777 million dollars - will get to co-owners of the company: to Roman Abramovich, Alexander Abramovu and Alexander Frolov.
Evraz Group - vertically integrated metallurgical and mining company. 72,9 % of actions supervise Cyprian Lanebrook Limited which on a parity basis own Millhouse Capital Roman Abramovich, and also chairman of board of directors Alexander Frolov and the councillor of directors Alexander Abramov.
in 2007 the company has increased net profit on MSFO by 55,7 %, to 2,144 mlrd dollars, a gain - on 54,5 %, to 12,808 mlrd dollars EBITDA - on 61 %, to 4,254 mlrd
Board of directors Evraz Group recommended dollars to shareholders at annual meeting on May, 15th to confirm dividends following the results of 2007 at a rate of 4,2 dollars on the action, or 1,4 dollars on GDR, the company has informed yesterday. Thus, taking into account intermediate dividends the general payments for last year can make 1,064 mlrd dollars (9 dollars on the action) that there correspond approximately 50 % of net profit for 2007. 777,3 million dollars from this sum will divide among themselves benefitsiary Lanebrook to which posess 72,9 % of the metallurgical company. It Millhouse Capital, operating Roman Abramovich`s actives and its partners (supervises 50 % Lanebrook), and also Alexander Abramov and Alexander Frolov (together - the others of 50 %). Thus, the richest Russian businessman Roman Abramovich after payment of dividends becomes richer for 388,6 million dollars
Generosity to shareholders Evraz shows some years successively. Though dividendnaja the policy of the company provides payment to shareholders not less than 25 % of net profit, the company, as a rule, considerably exceeds the minimum lath. One year ago it has paid to shareholders 5,25 dollars on the action, having directed on dividends of 44 % of net profit for 2006. For example, comparable on business scales “ Severstal “ following the results of 2007 770 million dollars Maxim Hudalov from IFK " is going to share with shareholders only 41 % of net profit, or; Metropol “ notices that dividendnaja profitableness on papers Evraz makes 3 % whereas at Magnitogorsk this indicator on 2007 has made 1,6 %, and at “ Severstal “ - 2,9 %.
Experts are not surprised by the size of dividends Evraz. According to Sergey Donsky from IK “ the Three Dialogue “ the payments declared by results of the first half of the year of last year, gave the grounds to expect high dividends and by results of all year. However the analyst of Bank of Moscow Dmitry Skvortsov believes that, considering the size is long 6,5 mlrd dollars, Evraz could be less generous in dividendnoj to the politician and start up a part of means for decrease in debt loading as dividendnaja the policy allows the company to save a little. However, the analyst recognises that debt loading for Evraz is not critical.
meanwhile the company debt continues to grow. Yesterday parametres of placing of eurobonds Evraz on 2 mlrd dollars Release of eurobonds became known will take place two (five - and ten years`) tranches. Means are necessary for the company for end of calculations on recent acquisitions, in particular Canadian IPSCO.
However, the generosity of the company has not affected its quotations: yesterday GDR Evraz at the London stock exchange have gone down in price on 5,75 %. Probably, thus shareholders of the company have reacted to the message on new loans Evraz.