(Adds dividends, share price)
MOSCOW, April 24 TMK, Russia's largest
maker of steel pipes, said first-quarter shipments fell 3
percent year-on-year to 1.02 million tonnes and forecast a
marginal decrease in shipments for 2014.
TMK, controlled by businessman Dmitry Pumpyansky, also said
Russian demand for tubular products would fall slightly in 2014
due to "the unstable macroeconomic environment, exchange rate
volatility and uncertainty in commodity markets."
The company said its board had recommended paying a final
dividend for 2013 of 0.78 roubles ($0.02) per share, which would
make the total payout for the year amount to a quarter of
A final decision on the dividend payout will be made at the
company's annual general meeting on June 19.
Shares in the company, which are trading around 20 percent
lower than at the start of the year, were down 3 percent at 1305
($1 = 35.7037 Russian Roubles)
(Reporting by Alessandra Prentice; Editing by Jane Merriman)