Mechel to Pay 1.4bn Rubles Preferred Shares Dividends

On the annual meeting Mechel share holders made a decision to pay 1.426bn rubles as preferred shares dividends for 2016 (10.28 rubles per a share). Thus, the company will allocate 20% of its profit for 2016 as preferred shares dividends. Common shares dividends will not be paid. According to IRFS, for the first time since 2011 Mechel has received 7.1 bn rubles profit. Before that Mechel paid dividends in 2011: 31.28 and 8.06 rubles on the preferred and the common share respectively.