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MMK’s shareholders vote to withhold dividends for 2011
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According to MMK, one of the largest steelmakers in Russia, its shareholders voted to withhold the dividends for 2011 after the firm posted a net loss of US$125 million for 2011 under IFRS, slumping from a net profit of US$232 million in a year earlier.
In 2010, the company paid RUB3.69 billion in dividends, down from RUB4.13 billion in a year earlier.
Meanwhile, MMK produced 12.2 million tons of steel products, rising by 7% in comparison of that in the previous year.
News Date
5/29/2012 11:03:16 AM
reported by
Frio Chou
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