MOSCOW, April 29. /TASS/. The board of directors of MMK (Magnitogorsk Iron and Steel Works) has recommended not to pay final dividends for 2024, the company reported.

The annual general meeting of shareholders, with the issue of 2024 dividends on the agenda, will be held on May 30, 2025. The meeting in person will be combined with absentee voting. May 6 is the cut-off date for inclusion in the shareholder register for the annual general meeting of shareholders. May 28, 2025, is the deadline for receipt of voting ballots.

For 1H 2024 MMK paid dividends in the amount of 27.87 bln rubles, or 2.494 rubles per share.

MMK is one of the largest global steel producers. Its operations in Russia include a steel producing complex encompassing the entire production chain, from preparation of iron ore to downstream processing of rolled steel. Chairman of the board of directors Viktor Rashnikov is the main shareholder of the company, holding 79.76% of shares, while the remaining stock is in free float.