Home  Issuers' Corner  Press Releases
CLOSE

Press Releases

company search
all press releases
all Mechel press releases

Mechel

June 2, 2008

Mechel’s Board recommends dividend amount

Moscow, Russia – June 02, 2008 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announces its board’s dividend recommendation.

On May 29, 2008, Mechel’s Board of Directors recommended to the annual general shareholders’ meeting an annual dividend of 26.38 rubles per one ordinary  share  (approximately $1.12 per ADR) for the 2007 fiscal year. The total dividend the Board recommended to the annual general shareholders’ meeting would amount to RUR 10,981,222,253.00 (approximately $465.6 million). The dividend payment is in line with Mechel’s previously announced intention to distribute to its shareholders not less than 50% of its consolidated annual net profits under US GAAP, beginning with the dividend paid for the year 2005.

The record date for the Mechel’s share - and ADR-holders entitled to participate in the annual general shareholders’ meeting and to receive dividends is June 4, 2008. The annual general shareholders’ meeting will be held on June 30, 2008, at the address: 1 Krasnoarmeyskaya St, Moscow, Russian Federation.

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z



Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer