April 20, 2012 / 9:44 AM / 8 years ago

Russia's MMK recommends no 2011 dividend

MOSCOW, April 20 (Reuters) - Magnitogorsk Iron & Steel Works , Russia’s third-largest steelmaker, said on Friday that its board of directors has recommended that the company pays no dividends for 2011.

The company posted a full year net loss of $125 million.

It paid a dividend of 0.33 roubles ($0.01) per share a year ago. ($1 = 29.5313 Russian roubles) (Reporting By Alfred Kueppers)

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