RUSAL shareholders decide against paying dividends for Jan–Jun

MOSCOW, Sep 10 (PRIME) -- The shareholders of Russian aluminum giant UC RUSAL has approved paying no dividends for January–June at an extraordinary general meeting, the company said in a statement on Friday.

In August, the company’s board of directors recommended paying no dividends for the period.

On Thursday, Sual Partners, which is co-owned by Viktor Vekselberg and has 25.72% in RUSAL, said that it disagreed with the recommendation and insisted that the aluminum company could and should have paid U.S. $904.5 million in dividends starting from 2019, including $289.8 million for January–June 2021, in accordance with its dividend policy.

RUSAL last paid dividends in 2018, which was a total of $299.3 million in dividends for 2017.

En+ Group holds 57% in RUSAL and free float is 17.4%.

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