The Severstal’s company board has confirmed its recommendation to shareholders meeting that is to be held on 06/09/2010. The retained profits will be directed towards operational expenditures. The dividends for 2008 were also retained by Vorkutaugol’.
Another company failing to pay 2009 dividends is Belon whose annual shareholders meeting on 04/30 approved of the respective recommendation of its board of directors, the company’s press release says, Belon experiencing 1.3 bn roubles loss in 2009. As earlier communicated, Belon had postponed payment of 2008 dividends of 1.332 roubles per share until 12/31/2010.