Shareholders of Raspadskaya decided not to pay dividends for 2022 – Kommersant

Shareholders of Raspadskaya coal company at the annual meeting on May 18 approved the decision not to pay dividends for 2022, explaining this by a “volatile situation” and “a huge number of risks.” In March, the top management of Raspadskaya recommended to refuse to pay dividends.

“Following the results of 2022, we recommended not to pay dividends, because the situation is too volatile, and there is a huge amount of risk. Moreover, we are, if very roughly in terms, half an export company. Accordingly, we are noticeably integrated into the situation in the world. And in this regard, we still do not see any drivers to reduce risks, ”said Ilya Shirokobrod, president of Raspadskaya, at a teleconference for investors.

Raspadskaya does not pay dividends starting from the final one for 2021. The company’s EBITDA for 2022 decreased by 3% to $1.295 billion, net operating cash flow – $915 million compared to $869 million a year earlier, net profit decreased by 11% to $782 million.

Raspadskaya is the largest producer of coking coal for metallurgy. Its assets are located in Kuzbass. The main shareholder of Raspadskaya is Evraz (93.2%). Last spring, Roman Abramovich, who owned 28.64% of Evraz at the end of 2021, came under UK and EU sanctions. In May, Evraz was added to the UK sanctions list. Despite Evraz restrictions received license to operate subsidiaries in North America.

Anastasia Larina