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Raspadskaya board decides not to recommend 2022 dividend payment

"Despite the robust financial performance, the Board of Directors does not currently consider the payment of dividends for 2022 to be in the best interests of the company and its shareholders given the persistently high volatility in key sales markets, geopolitical developments, existing restrictions and the company’s business growth plans," the report said

MOSCOW, March 16. /TASS/. The board of directors of Raspadskaya has decided not to recommend the payment of dividends for 2022, Russia’s major producer of coking coal reported on Thursday.

"Despite the robust financial performance, the Board of Directors does not currently consider the payment of dividends for 2022 to be in the best interests of the company and its shareholders given the persistently high volatility in key sales markets, geopolitical developments, existing restrictions and the company’s business growth plans," the report said.

Raspadskaya’s production complex includes seven mines, two open-pit mines, and three processing plants in the Kemerovo region, as well as one mine in Tuva. The company’s reserves total 1.9 bln tons of coal.

Evraz owns around 93.24% of share in Raspadskaya.