MTS, Magnitogorsk say '07 dividends paid out

MOSCOW Jan 12 (Reuters) - Two Russian companies, mobile operator MTS (MBT.N) and Magnitogorsk Iron & Steel Works (MAGN.MM), took the unusual step of announcing promised dividends had been paid after two peers revised their payout policies.

MTS, Russia's largest mobile phone operator, said in a statement on Monday that it had completed payment of 29.58 billion roubles ($968.9 million) in 2007 dividends by Dec 31.

MTS dividends are a key source of income for its parent company, the Sistema (SSAq.L) services conglomerate, which controls 52.8 percent of the carrier.

Earlier on Monday, Magnitogorsk said it had paid out 5.6 billion roubles in dividends for 2007 by Jan 11.

Companies struggling to preserve cash have found themselves at odds with stock investors seeking dividend plays to ensure they also have cash coming in.

Evraz Group HK1q.L, part owned by billionaire Chelsea owner Roman Abramovich, had told shareholders they could receive their interim 2008 dividend in discounted Evraz shares.

Coking coal miner Raspadskaya (RASP.MM) said in late December it would pay out no more than 25 percent of net profit in dividends. Its previous policy had been to pay no less than 25 percent.

($1=30.53 Rouble) (Reporting by Melissa Akin and Maria Kiselyova)