MMK will not pay dividends

In Magnitogorsk, PJSC MMK (Chelyabinsk Region) refused to pay dividends for 2022. The decision was made at the general meeting of shareholders.

“Dividends on the placed ordinary shares of MMK PJSC based on the results of work for the reporting year 2022 shall not be paid. Approve the distribution of PJSC MMK’s profits based on the results of the reporting year 2022 recommended by the Board of Directors,” the minutes of the meeting say.

At the same time, the shareholders decided to pay remuneration in the amount of 120 million rubles to the members of the board of directors. The funds will be used to pay for work in 2023-2024. Also during the meeting, the authority of the head was confirmed by Pavel Shilyaev.

In May, the boards of directors of several Chelyabinsk companies proposed to refuse to pay dividends to shareholders. Among them are the Magnezit group and PJSC ChMK. Ashinsky Steel Works is preparing to delist shares on the stock exchange. The plant of the family of State Duma deputy Valery Gartung ChKPZ will pay dividends in the amount of 148 million rubles. The decision on the distribution of profits will be made by Mechel PAO on May 29.