Evraz Announces Change in Dividend Policy
December 19, 2008 – Evraz Group (LSE: EVR) ("Evraz" or the "Company") announces that the Company’s Board of Directors has approved a change in Evraz’s dividend policy.
Beginning with the final dividend for 2008, Evraz will pay dividends not exceeding 25% of its consolidated net income, as calculated under IFRS.
Since the Company’s initial public offering in June 2005, the Company’s dividend policy had been to pay no less than 25% of its consolidated net income through the cycle.
The change reflects the Company’s intention to ensure prudent cash management in the current challenging market environment.
The 2008 final dividend will be announced together with Evraz’s 2008 full year results.
# # #
For further information:
Corporate Affairs and Investor Relations
Tel: +7 495 232 1370