“ Severstal “ has prepared a bonus for investors
“ Severstal “ will spend about 70 million dollars for dividends
Buyers of actions « Severstal » which have been placed in London in the beginning of November, have received from the company the first « prizes ». Yesterday Alexey Mordashova`s holding declared payment of intermediate dividends following the results of company activity for nine months of current year. Shareholders will receive in total about 70 million the dollars which most part will get to the owner of the company.
Open Society Board of directors « Severstal » recommended to shareholders to confirm dividends for nine months 2006 at a rate of 2 rbl. on the action. Thus, payments to shareholders of holding will make about 68,9 million dollars And date of closing of the register of shareholders is made for November, 16th that will allow to receive dividends and to the investors who have taken shares during recent placing of actions « Severstal ». Some days ago they during public placing have redeemed about 9,1 % of actions « Severstal » hardly more than for 1 mlrd Now the company will add dollars it about 6 million dollars of dividends.
However, this year « Severstal » not so it is generous to the shareholders. Last year the company following the results of nine months has paid about 100 million dollars (3 rbl. on the action). Now « Severstal » it was necessary to reduce dividends to third from - for decrease in financial results in 2006. The dividendnaja policy of the company provides an expenditure on payments not less than 25 % from annual net profit of holding. According to the company reporting, in January — June, 2006 it has made 411,9 million dollars that in 2,1 times it is less, than for six months 2005. A source close to « Severstal » has explained daily that a decrease principal cause are production factors. So, indicators of a raw battalion, which « were reduced; has suffered » from the low prices for ore, was under repair gorjacheprokatnyj a camp, from - for what on sale basically there were slabs the prices on which are low, there was a preparation for repair of one of blast furnaces.
Thus, by data daily, financial results following the results of nine months of this year should look much better, as the majority of the named problems already managed to be solved. Besides, after the placing termination dopemissii 85 million actions « Severstal » which price the holding board of directors has established at level 332,74 rbl. for a paper, the pure debt of holding becomes zero.
Yesterday comparable on volumes of output and financial indicators Evraz also declared payment of intermediate dividends to the shareholders following the results of the first half of the year 2006 in volume more than 228 million dollars (1,95 dollars on the action). Last year dividends Evraz following the results of nine months experts have made 193,4 million dollars
Such unlike results at two comparable companies explain the several reasons. « at the companies different enough commodity markets » — the analyst of YOKES « marks; ATON » Dmitry Kolomytsyn. Besides, the rate of the profit tax which this year above, than in 2005 - m, also was reflected in well-being « Severstal ». « In addition, holdings strongly differ by corporate governance principles » — the expert speaks.
Payment is enough « modest » dividends against obtained from placing 1 mlrd dollars, according to experts, — the first step « Severstal » to a reorganisation of corporate governance the company. « if dividends were above, investors hardly would approve Mordashova » — Dmitry Kolomytsyn considers. According to Oleg Dushina from IK « Tserih Kepital Management » the means received by the basic shareholder can be involved in manufacture of new kinds of production, higher repartition.
Open Society « Severstal » — headquarters plant of versatile holding « Severstal - grup » and its metallurgical battalion. The company gain on US GAAP in the first half of the year 2006 has made 4,38 mlrd dollars, net profit — about 412 million dollars the Largest benefitsiarom « Severstal » head « is; Severstal - grup » Alexey Mordashov supervising more of 80 % of shares of company