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Mechel reports its Board of Directors’ decisions

Published by
Global Mining Review,

Mechel PAO, a Russian mining and metals company, has announced the decisions made by its Board of Directors at a meeting held on 21 May 2019.

The Board of Directors made the following recommendations to the general meeting of Mechel PAO’s shareholders:

  • Not to pay an annual dividend with respect to ordinary shares.
  • To pay an annual dividend of 18.21 rubles/share.
  • That the list of persons entitled to receive dividends for 2018 be made based on the data in the Mechel PAO Shareholders’ Register as of 18 July 2019.

The Board of Directors also recommended the general meeting of Mechel PAO’s shareholders to approve dividing part of accumulated profit from previous years as follows:

  • To allocate 2 526 763 422.15 rubles for payment of dividends for listed preferred shares.
  • To leave the remainder of profit (6 062 469 908.78 rubles) unallocated.

The annual general meeting of shareholders will be held on 28 June 2019 at the following address: Russia, Moscow, Leningradsky Prospect, 37 bldg 9, Aerostar Hotel. Filled vote bulletins may be mailed to 125167, Moscow, Krasnoarmeiskaya St, 1, Mechel PAO.

The annual general meeting of shareholders will be held at 12:00pm local time. Registration of persons participating in the general meeting of shareholders will begin at 11:00am local time.

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Russian mining news