May 06, 2014 10:50
Mechel's Southern Kuzbass Coal Co could waive 2013 dividends due to losses
KEMEROVO. May 6 (Interfax) - Directors at the Mechel (MOEX: MTLR) coal and steel group's Southern Kuzbass Coal Company (MOEX: UKUZ) are recommending that shareholders vote at their annual shareholders meeting on June 19 to waive dividends for 2013, Southern Kuzbass said in materials.
The coal producer closed 2013 with net losses of 1.101 billion rubles to Russian Accounting Standards (RAS), compared with 2.813 billion rubles profit in 2012.
The company last year decided to pay dividends for 2012 and for Q2-Q4 2008. In 2012, it decided to pay for 2010 and 2011. Dividends for Q1 2018 were paid prior to that, but no dividends were paid for 2009.
Shareholders on record as of May 12 will be entitled to vote at this year's AGM.
OJSC Mechel Mining owned 96.6% of Southern Kuzbass, one of Russia's biggest coal mining enterprises, as of March 31.
Southern Kuzbass has 36,109,217 issued ordinary shares, par value 0.04 rubles each.
(Our editorial staff can be reached at email@example.com)
January 29, 2015
Russia political and economic calendar: January 29
January 28, 2015
Question of sanctions will depend on observance of Minsk accords - U.S. ambassador to Russia
EU to extend anti-Russian sanctions till Dec 2015
Russian Justice Ministry confirms refusal to approve changes to Memorial's constitution
U.S. not trying to change Russian govt but its policy - ambassador
Japanese Foreign Minister may visit Moscow to prepare Putin's' visit to Tokyo
Duma chief's words on "annexation" of E. Germany misinterpreted - PR head
U.S. ambassador to Russia: observation of Minsk accord by Moscow a key to lifting of sanctions
Criminal proceedings launched in relation to beating of detainee in Belgorod region police
Ukraine keeps control of Maryinka in violation of Minsk deal - militia
DPR Defense Ministry: up to 10,000 Ukrainian military may be trapped near Debaltseve
85% of Russians approve of Putin's job performance - poll