At the extraordinary meeting of shareholders of OAO Magnitogorsk Iron & Steel Works (MMK) held on November 29, 2005 it was passed a resolution to pay out interim dividend for the nine months of 2005 to an aggregate of 14 billion rubles or 0.667 ruble per ordinary share with a par value of 1 ruble.

Company's authorized capital equals 10.63 billion rubles. MMK's revenue in the first nine months rose 16 percent up to 111 billion rubles, net earnings climbed 0.3 percent to come to 23.942 billion rubles from 23.866 billion rubles.

In 2004 the Works reached high production capabilities. The production of sinter amounted to 10 million 361 thousand tons, coke production was registered at 5 million 870 thousand tons, the production of pig iron and steel reached 9 million 654 thousand tons and 11 million 294 thousand tons respectively.

MMK as usual remains the most active participant in the investment process among the enterprises of the non-ferrous industry.

"AK&M", 29/11/2005 10:04