OREANDA-NEWS. August 28, 2008. Severstal's Board of Directors, held on 27-28 August 2008, recommended a dividend of 18.35 rubles per share and per global depositary receipt ("GDR") for the second quarter 2008 with the record date of 20 August 2008. Each GDR represents one share in the Company.

Approval of the dividend payment is expected at the company's EGM on 30 September 2008.