Half Year Results 

Evraz pays out while the iron is hot

Evraz pays out while the iron is hot

Can a dividend be too large? Integrated steel manufacturer Evraz (EVR) looks set to answer that question in the coming weeks, after it footnoted its half-year numbers with a plan to return $429.6m (£331m) to shareholders on 8 September. This, from a company whose net borrowings are nearly three times the equity, whose cost of sales are up 44 per cent year on year, and whose post-tax profit reached a mere $86m for the period under review.

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