Mittal Steel Kryvy Rig To Pay Dividends Of USD 18.36 mln For 2005.

The company’s (KSTL: BUY) AGM yesterday voted to pay 5.9% of its 2005 net income as dividends. KSTL’s dividend yield comes out to 0.7%. The ex-dividend date was yesterday, June 29, 2006. Legal entities will receive their dividends between June 20 and August 1, 2006, while private persons have from June 29 to December 1, 2006. Apart from paying dividends to current shareholders, Mittal Steel Kryvy Rig will pay USD 63.8 mln (20% of last year’s net income) to the state, which was the company’s controlling shareholder in 2005. Andriy Gostik: Dividend payout for 2005 fell short of our expectations. In 2005, the company paid USD 227 mln in dividends for 2004, or 60% of net income in 2004. Apparently the company’s new owner is reluctant to make cash distributions of its earnings and instead will focus on re-investing profits.