OREANDA-NEWS. November 17, 2008. Severstal's Board of Directors, held on 13-14 November 2008, recommended a dividend of 7.17 rubles per share and per global depositary receipt ("GDR") for the third quarter 2008 with the record date of 14 November 2008. Each GDR represents one share in the Company.

Approval of the dividend payment is expected at the company's EGM on December 26, 2008.