May 25, 2012 / 7:00 AM / 7 years ago

Russia's MMK will not pay 2011 dividend

MOSCOW, May 25 (Reuters) - Magnitogorsk Iron & Steel Works , Russia’s third-largest steelmaker, said on Friday that shareholders approved its board of director’s decision to pay no dividends for 2011.

The company posted a full year net loss of $125 million.

A year ago, it paid a dividend of 0.33 roubles ($0.01) per share.

$1 = 31.7550 Russian roubles Reporting by Polina Devitt; Editing by Andrey Ostroukh

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