The shareholders of Almetyevsky Pipe Plant which is a part of “Joint Metallurgical Company have decided at the annual meeting on June 18, to pay dividends on results of 2008 as a calculation of RUB 0.5 to each preferred share with the RUB 1 nominal as reported in the company’s message.

Registered capital of the joint venture is RUB 3.233 million and it is divided into 2 million. 972,430 of common shares and 260,280 of preferred shares with RUB 1 nominal value. Tatarstan possesses the golden share of ATZ.

The shareholders did not support the proposal from the Ministry of Land and Equity of Tatarstan to set dividends to common shares and to direct for this purpose not less than 30% from the net profit of 2008 and voted against.

(Source from rusmet.com)