Metalloinvest not to pay dividends for 2009 and Q1 2010

Monday, 24 May 2010 11:56:21 (GMT+2)

The Russian iron ore and steel producing company Metalloinvest Holding has announced that it does not plan to pay dividends for 2009 and the first quarter of 2010.
 
"The decision not to pay dividends was taken by the shareholders of the company in the summer of 2009 and is still in force", said Metalloinvest Management Company's general director Eduard Potapov.

In addition, according to Mr. Potapov, the dividends paid by Metalloinvest subsidiaries to the holding company will be used to service the debt obligations of the company. 

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