The board of directors of the Russian integrated steel producer Magnitogorsk Iron and Steel Works (MMK) has recommended paying 1.488 rubles per share in dividends for January-March, in line with the managers’ proposals, the company said in a statement.
The total sum will amount to $260 million, or 100% of the company’s free cash flow.
June 20 is recommended as a record date.
In February, MMK’s board of directors recommended paying 1.398 rubles per share in dividends for October-December 2018. (Prime/Ukrainian metal)