OREANDA-NEWS. May 16, 2011. A meeting of the Management Board of OJSC “MMC “Norilsk Nickel” (hereinafter MMC Norilsk Nickel or the Company) took place, reported the press-centre of Norilsk Nickel.

The following items of the agenda were discussed:

I. Dividends for 2010 financial year.
The Management Board has elaborated its opinion with respect to dividend pay-out for 2010 financial year. The Management Board considers that MMC Norilsk Nickel is in a position to distribute dividends in accordance with the current dividend policy. The Management Board recommends the pay-out of 180 Roubles per share in form of dividends.
In the nearest future, this matter will be considered by the Board of Directors of the Company, which will provide its recommendation for the voting at the Annual General Meeting of shareholders of the Company.

II. Production, financial and sales reports of MMC Norilsk Nickel.
The Management Board reviewed and preliminary approved the draft of the Annual report of the Company for 2010, annual financial statements in accordance with RAS for 2010, production, financial and sales reports for 1Q 2011. It was noted that on the back of overall production cost cutting, the Company has managed to raise wages for the majority of production staff and fully meet its tax and social obligations. In addition, the Management Board reviewed and approved the results of sales divisions for 1Q 2011.

Disclaimer
The pay-out of dividends is subject to explicit approval by the Board of Directors and simple majority voting by shareholders at the Annual General Meeting of shareholders.