14 Apr 2009 07:00
April 14, 2009
MMK's Board of Directors' Recommendations on the size of FY2008 Dividends
On April 10, 2009 the Board of Directors recommended to the Annual general shareholders' meeting to adopt a resolution on payment of dividends for the financial period of 12 months of 2008 in the amount of RUB 0.000 per ordinary share.
The issue of dividend payout for the full financial year 2008 will be considered at the Annual general shareholders' meeting on May 22, 2009 based on recommendations of the Board of Directors.
The list of persons entitled to participate in the General Shareholders' meeting of the Company's shareholders is prepared on the basis of the Shareholders' Register as of business close April 09, 2009.
On August 29, 2009 the Extraordinary Shareholders' Meeting took the decision on dividend payment in the amount of RUR 0.382 per ordinary share based on the financial results for the first 6 months of 2008.
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Information on MMK
Magnitogorsk Iron and Steel Works OJSC (MMK) is among the world's largest steel producers and one of the leaders of Russia's steel industry. The Company is a large steel producing complex encompassing the entire production chain, from preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products with a predominant share of value added goods.
In 2008 the Company produced 11.9 m tonnes of crude steel and 10.9 m tonnes of commercial products.
Contacts:
Evgeny Kovtunov
Investor Relations
Tel: +7 3519 24 93 55 Fax: +7 3519 24 93 60 kovtunov@mmk.ru
Elena Azovtseva
Press Secretary
Tel.: +7 3519 24 90 82 Fax: +7 3519 24 80 24 azovtseva@mmk.ru