Net profit of MMK is at record level
Edited by Rhod Mackenzie / 2015-08-12 01:09:11
Finance Metals and mining Russia Russia mineral extraction Financial results Magnitogorsk metallurgic plant MMK Russia Metals and Mining Coal Steel
In the first six months, the net profit of MMK under IAS grew by 485% to $468 million. According to the company’s PR Department, the net profit is at record levels over the past 5 years.
Agenda of the Board of Directors’ meeting includes recommendation to thef meeting of shareholders to pay dividends for six months in 2015. The dividends will be determined based on the current dividend policy, which implies the payment of at least 20% of the consolidated net profit for the period.
