On May 10, the board of directors of Mechel, one of the leading Russian mining and metals companies, recommended to its annual general shareholders' meeting an annual dividend of Ruble 8.73 per one ordinary share ($0.32) for the 2010 fiscal year. Also, Mechel's board recommended an annual dividend of Ruble 26.21 (about $0.95) per one preferred share.
The total dividend the board recommended would thus amount to Ruble 3.634 billion (about $131.4 million) for ordinary shares and Ruble 3,6368 billion (about $131.5 million) for preferred shares.