After today’s opening of trading on the Moscow Exchange, Mechel’s preferred shares collapsed by about 33% to reach 143.25 rubles per security (yesterday the maximum value of the pref reached 223.25 rubles per unit). Ordinary shares of Mechel also fell to 120.05 rubles per security (approximately by 7.5%), according to trading data.

The negative dynamics of Mechel’s stock indicators is associated with the recommendation of the company’s Board of Directors announced yesterday not to pay dividends for 2021. According to Mechel’s financial results, payments to security holders could amount to about 116 rubles per pref.

In 2020, the company also did not pay dividends on the dates set earlier in accordance with the bankruptcy moratorium in force.