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Severstal shares up over 5.7% on Moscow Exchange

As of 1:03 p.m. Moscow time, the price of the company’s shares was up at 1,525.8 rubles per share

MOSCOW, January 11. /TASS/. The price of Severstal shares rose by more than 5.7% on Moscow Exchange on Thursday, according to trading data.

Severstal shares grew after Chief Executive Officer Alexander Shevelev said that the board of directors would consider the possibility of paying dividends this year at its next meeting.

As of 1:03 p.m. Moscow time (10:03 a.m. GMT), the price of the company’s shares was up by 5.72% at 1,525.8 rubles per share. By 1:21 p.m. Moscow time (10:21 a.m. GMT) the price of Severstal shares had narrowed gains to 4.66% trading at 1,510.2 rubles per share.

Severstal is a vertically integrated steel and mining company and one of Russia’s largest steel producers. The Cherepovets Steel Mill is the company’s key asset. Its production capacity roughly totals 12 mln metric tons of steel per year.

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