Although Alexey Mordashov seemed to have promised that he would invest excess profits in the development of production and the Russian economy.
The Board of Directors of Severstal Cherepovets recommended shareholders to approve an increase in dividends by approximately 5.5 times – up to 84.85 rubles. per share. Considering that 77% of the shares belong to Alexei Mordashov, the recommendation concerns mainly him.
The final decision on the amount of dividends should be made on August 20 at a meeting of the board of directors. The total amount of payments to shareholders in the second half of the year may exceed 70 billion rubles, according to Kommersant.
It is worth recalling that as recently as June, in an interview with the Financial Times, Alexei Mordashov said that he had “heard” the words of the head of state about the inadmissibility of withdrawing excess profits in the form of dividends and was ready to invest them in development.
Alexey Mordashov, co-owner and head of the board of directors of Severstal:
“Mr Putin is the president and leader of our country, and he has expressed, to a large extent, what every Russian has in mind. A certain demand has matured in society: there is a need for social justice and integration. And I think big business should pay attention to this. “
But now Alexey Mordashov is hastily putting super-profits into the pockets of shareholders, the main one of which is he. Recall that 77% of Severstal shares belong to him.