Debt management and stable dividends
EVRAZ remains focused on medium-term debt management and maintaining a stable dividend payout:
- Dividend payout according to stated dividend policy: a minimum of US$300 million to shareholders annually provided that the net leverage ratio remains below 3.0x.
- Medium-term net debt level below US$4,000 million.
- Target average net debt/EBITDA at 2.0x throughout the cycle.
In 2020, the Group’s net debt amounted to US$3,356 million, remaining below the medium-term target of US$4,000 million.
The average net debt/EBITDA ratio was 1.5x. Even when facing market volatility, EVRAZ remains committed to maintaining its long-term average net debt/EBITDA at 2.0x.
In 2020, the Group generated solid free cash ﬂow of US$1,020 million. Coupled with a net debt/EBITDA ratio below 2.0x, this enabled EVRAZ to return US$872 million to its shareholders in the form of dividends for a dividend yield of 14%.