Severstal will allocate $1 billion to dividends payment before the end of the year

Severstal will allocate $1 billion into dividends payment before the end of the year, the chief of the company, A. Mordashov says. The sum is what has been raised in the sale of the US assets Severstal Dearborn LLC and Severstal Columbus. The rest of the sum will invested to debt repayments. The company announced about this opportunity in the end of July when making the public the news about the closure of the binding contracts for the sales of Severstal Columbus to Steel Dynamics and Severstal Dearborn to AK Steel. The total sum is $2.325 billion without the external debt of $171 billion. The sides are going to close the transaction before the end of the year. Thus, Severstal will raise over $2 billion in the sale of the steel smelting assets.