Interfax reported that Vyksa Steel Works which is controlled by United Metallurgical Company will pay all 2010 net profit of RUB 4.51 billion to shareholders.

Directors are recommending a dividend of RUB 2,626 per share which would be 130% higher than the RUB 1,130 paid for 2009.

The Vyksa works, Russia biggest pipe mill has 1,717,433 issued ordinary shares, par value RUB 200 each. CJSC Metalresurskompleks owns 47.8%, CJSC OMK-Service owns 27.5% and CJSC Metallinvest owns 11.3%.

The company reduced steel pipe output 6.2%YoY in January to May to 770,000 tonnes including 482,000 tonnes of large-diameter pipes, down 9.4% and 338,100 rail carriage wheels up by 39.1%.

(Sourced from Interfax)