On June 1 MMK held its Annual General Meeting of Shareholders (AGM) in Magnitogorsk. The AGM approved MMK’s annual report and financial statements for FY 2017 and approved a dividend payment for the 2017 financial year of 0.806 rubles per share (including tax).
Previously shareholders received interim dividends for H1 2017 of 9,710.5 million rubles (0.869 rubles per share, including tax) and for January-September 2017 of 12,414.7 million rubles (1.111 rubles per share, including tax).
The FY 2017 dividend record date is set as the close of trading on June 13.
The AGM elected MMK’s Board of Directors, which comprised Victor Rashnikov, Pavel Shilyaev (CEO at MMK), Nikolai Lyadov (Deputy CEO for Sales at MMK), Sergey Ushakov (Deputy CEO for Production at MMK), Olga Rashnikova, Zumrud Rustamova (Deputy CEO at AO Polymetal), and Kirill Levin (Deputy Chairman of the Management Board at AO Russian Agricultural Bank). In addition, three directors were elected who met criteria for independence of the Russian Corporate Governance Code, recommended by the Central Bank of Russia and Listing Rules of PSJC Moscow Exchange: Ruben Aganbegyan (Advisor to CEO of VEB Capital, Vnesheconombank’s investment company), Valery Martsinovich (Strategic Director for European Fast Growing Markets Cluster at Hay Group), and Tav Morgan (Department Director at Baring Vostok Capital Partners Group Limited).
Alexander Maslennikov, Oksana Dyuldina and Galina Akimova were elected as members of the Audit Commission. AO PricewaterhouseCoopers Audit was approved as the Company’s Auditor.
Shareholders approved remuneration and compensation for the Board of Directors and members of the Audit Commission for 2018-2019.
After the AGM, the first meeting of MMK’s new Board of Directors took place, at which Victor Rashnikov was elected as Chairman. The board elected members of its committees and passed a decision to recognize Kirill Levin as an independent member of the board. (MMK/Ukrainian metal)