Evraz, belonging to Roman Abramovich, Alexander Abramov and Alexander Frolov, could decrease the charter capital of Evraz Plc by $1.43 billion to pay dividends to the shareholders.
The Evraz dividend policy adopted in March presupposes annual payments of not less than $300 million. But in 2017 the company paid $860 million, and both investors and analysts expect the high payments to continue.
The board of directors suggested shareholders to vote on June 19 to decrease the charter capital to $75 million from $1.5 billion.
Evraz did not pay regular dividends in 2013-2016 because of the high debt burden, but in August 2017, having sold Evraz Sukhaya Balka to DCH Group, the company announced the payment of dividends in the amount of $429.6 million. (Ukrainian metal)