Stakhaniv Ferroalloy and Zaporizhya Ferroalloy pay USD 19.1 mln and USD 7.6 mln in dividends

At their AGMs yesterday, shareholders of Stakhaniv Ferroalloy (SFER: BUY) and Zaporizhya Ferroalloy (ZFER: HOLD) voted to pay USD 19.1 mln (DPS of USD 0.001, dividend yield of 12.4%) and USD 7.6 mln (DPS of USD 0.003, dividend yield of 0.65%) in dividends, respectively. The companies’ dividend payouts accounted both for 95% of their 2007 net incomes. Andriy Gerus: We expect that shareholders of another Privat Group’s ferroalloy plant, Nikopol Ferroalloy will vote at their AGM on October 8 to distribute the company’s total net income for 2001-2007 into dividends, which would imply dividend yield of ~2%.