Severstal shareholders approve dividends, reelects board of directors
MOSCOW. June 28 (Interfax) - Shareholders in OJSC Severstal , at their annual meeting on Thursday, approved dividend payouts for 2011 (3.56 rubles per share) and the first quarter of this year (4.07 rubles), the company said in a statement.
The new board consists of 10 members and is unchanged. The board includes: Christopher Clark (independent director), Alexei Mordashov (CEO), Rolf Stomberg (senior independent director), Martin Angle (independent director), Ronald Freeman (independent director), Peter Kraljic (independent director), Sergei Kuznetsov (CEO of Severstal International and Severstal North America), Mikhail Noskov (non-executive director at Severstal), Alexei Kulichenko (CFO), and Alexander Grubman (head of Severstal Russian Steel).
In addition, the shareholders approved the annual report and annual accounting report, including a report on profit and losses for 2011. The shareholders also reelected the audit committee and approved CJSC KPMG as Severstal's auditor.
OJSC Severstal is a vertically integrated steelmaker with assets in Russia, North America, Europe, Africa, and Ukraine. The main beneficiary in Severstal is its CEO, Alexei Mordashov, who owns 81.4% following the spinoff of Nordgold.
