Norilsk Nickel to pay 210 rubles a share, Deripaska elected to board
MOSCOW. June 28 (Interfax) - Shareholders in MMC Norilsk Nickel voted at their AGM on June 28 to accept a dividend of 210 rubles on ordinary shares, an Interfax correspondent reports from the meeting.
The company will pay shareholders 50% or $1.325 billion of its net profit for 2009.
The dividend is in line with the board's recommendation. Norilsk did not pay dividends for 200ui, which it closed with losses. Oleg Deripaska's United Company Rusal (UC Rusal), which owns a blocking stake, wanted the company to pay $3 billion for 2009.
Oleg Deripaska, was elected to the board of directors, as was the aluminum giant's corporate development manager, Maxim Skokov, and first deputy general director, Vladislav Solovyev.
Vladimir Potanin's Interros got four representatives elected: Andrei Bugrov, managing director; Marianna Zakharova, head of the legal department; Andrei Klishas, vice president; and Boris Bakal, nominated while he was still managing director of Citigroup Venture Capital International, but who is now consultant to Interros International Investments
Norilsk Nickel itself is represented on the new board by Vladimir Strzhalkovsky, the chief executive; Oleg Pivovarchuk, his first deputy; and Dmitry Kostoyev, head of finance and economics.
Vasily Titov, first deputy chairman of VTB , was elected, as were independent directors Brad Mills and Gerard Holden.
Alexander Voloshin, chairman of the old board, was not elected to the new board. Voloshin was nominated by Rusal, with the backing of Vnesheconombank (VEB), which holds Rusal's stake in Norilsk as security for a loan.
In total, Rusal nominated 11 candidates for the board of 13 directors, Interros nominated seven and Kola Mining and Metals Company which, with other Norilsk Nickel subsidiaries, has 8.5% of the company's shares on its books, nominated five.