OREANDA-NEWS. OJSC Raspadskaya, one of the Russia’s leading coking coal producers, has announced today that Company’s Board of Directors has recommended for the approval by the shareholders’ Annual General Meeting a final dividend of RUR1,94 per share for the financial year ended 31 December 2006 payable to the shareholders on the share register as of 27 April 2007. Raspadskaya has committed to pay at least 25% of IFRS audited consolidated net income. Board of Directors recommended paying out 50% of pro forma net income in 2006 reflecting the new consolidated Raspadskaya’s pro forma results which include results of MUK-96 and Razrez Raspadsky for the whole of 2006 rather than from the date of their consolidation on 31 May 2006.


Commenting on the decision, Alexander Vagin, Chairman of the Board, said: “This first dividend declaration post IPO demonstrates our commitment to the declared dividend policy and to shareholders’ value. We wanted the investors to fully benefit from the Group’ scale and reward them for the trust they have put into our business”.

Company’s AGM will take place on 15 June 2007 in Mezhdurechensk, Kemerovo region with the following agenda:
 1. Approval of Raspadskaya’s Annual Report and RAS annual financial statements, including income statement of Raspadskaya for 2006
 2. Distribution of profit, including dividend payout for 2006
 3. Election of Raspadskaya’s Controller
 4. Approval of Raspadskaya’s Auditor
 5. Reduction of Raspadskaya’s share capital by way of the treasury shares’ retirement
 6. Election of Raspadskaya’s Board of Directors