MOSCOW May 28 Russia' coking coal and steel producer Mechel (MTL.N) said on Friday its board had recommended paying shareholders $29.5 million in dividends for 2009.
It said in a statement the board recommended a dividend of 1.09 roubles (around $0.035) per ordinary share for a total of $14.7 million and 3.29 roubles ($0.11) per preference share for a total of $14.8 million.
The dividend has to be approved by an annual shareholders meeting to take place on June 30. The ex-dividend date is May 24. (Reporting by Aleksandras Budrys; editing by Dmitry Sergeyev)