Board Chairman says MMK may consider paying divs in 5 years

MOSCOW, Mar 17 (PRIME) -- Russia’s Magnitogorsk Iron and Steel Works (MMK) may return to consideration of dividend payments in five years, Viktor Rashnikov, chairman of the board of directors and the company’s core shareholder, told PRIME late on Thursday.

“No, there will be no dividends … We might return to dividends in five years,” he said.

MMK shareholders previously decided against paying dividends for 2021, and Rashnikov said in December that the company did not want to resume dividend payments.

End