25 Apr 2016 10:52

MMK might pay dividend of 0.31 rubles/share for 2015

MOSCOW. April 25 (Interfax) - The board of directors of Magnitogorsk Iron & Steel Works (MMK) has recommended dividends of 0.31 rubles per share for 2015, the Russian steelmaker said in a statement.

MMK also suggested that a new dividend policy be confirmed, in accordance with which up to 30% of free cash flow is planned to be allocated toward dividend payments. It is planned to pay dividends on a semiannual basis.

The annual shareholders' meeting will take place on May 27, the date for compiling the list of those with the right to participate in it was April 11. The register for the receipt of dividends closes on June 7.