Evraz Group’s four Ukrainian subsidiaries will not pay dividends in 2008

Yesterday four of Evraz Group’s six Ukrainian subsidiaries, including Dniprodzerzhinsk Coke (DZKZ: N/R), DniproCoke, Bagliy Coke (BKOK: BUY) and Sukha Balka (SUBA: SELL) announced AGM decisions not to pay out dividends. DniproCoke’s AGM approved reinvestment of the company’s 2007 net income of USD 1.7 mln. Sukha Balka shareholders voted to spend 2007 net income of USD 14.8 mln to cover the company’s losses. Dniprodzerzhinsk Coke and Bagliy Coke incurred net losses of USD 12.8 mln and USD 18.6 mln, respectively, in 2007.