Vyksa Steel Works to pay all 2010 profit to shareholders
NIZHNY NOVGOROD. June 21 (Interfax) - Vyksa Steel Works , which is controlled by United Metallurgical Company (OMK), will pay all 2010 net profit of 4.51 billion rubles to shareholders, the company said following its AGM, which took place on June 16.
Directors are recommending a dividend of 2,626 rubles per share, which would be 130% higher than the 1,130 rubles paid for 2009.
The Vyksa works, Russia's biggest pipe mill, has 1,717,433 issued ordinary shares, par value 200 rubles each. CJSC Metalresurskompleks owns 47.8%, CJSC OMK-Service owns 27.5% and CJSC Metallinvest owns 11.3%.
The company reduced steel pipe output 6.2% year-on-year in January-May to 770,000 tonnes, including 482,000 tonnes of large-diameter pipes, down 9.4%; and 338,100 rail carriage wheels, up 39.1%.