Debt management and stable dividends
- Dividend payout according to stated dividend policy
- Medium-term net debt level below US$4,000 million
- Target average net debt/EBITDA at 2.0x throughout the cycle
Following the successful deleveraging efforts of recent years, EVRAZ has a renewed focus on returning value to shareholders and further managing its debt. In 2018, robust free cash ﬂow of US$1,940 million allowed the Group to significantly decrease its net debt.
During the reporting period, EVRAZ returned a total of US$1.6 billion to its shareholders in the form of dividends for a dividend yield of 17%, establishing a new record for the Company.
In 2018, EVRAZ announced an updated dividend policy envisaging returning at least US$300 million to shareholders each year, provided that the Group’s net debt/EBITDA ratio remains below 3.0x. Going forward, the remaining free cash flow after implementing investment programme can be distributed as dividends. Even in the events of a market correction and weaker profitability, EVRAZ remains committed to its long-term average net debt/EBITDA at 2.0x , which will allow the Group to maintain its stated dividend policy.
|Yield||17 %||9 %||0||12 %|