UPDATE: MMK board recommends 1.488 rbl/shr in divs for Jan–Mar

(Provides new data in headline, lede, adds paragraph 3)

MOSCOW, Apr 30 (PRIME) -- The board of directors of Russian integrated steel producer Magnitogorsk Iron and Steel Works (MMK) has recommended paying 1.488 rubles per share in dividends for January–March, in line with the managers’ proposals, the company said in a statement on Tuesday.

The total sum will amount to U.S. $260 million, or 100% of the company’s free cash flow.

June 20 is recommended as a record date.

In February, MMK’s board of directors recommended paying 1.398 rubles per share in dividends for October–December 2018.

(64.6917 rubles – U.S. $1)

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