OREANDA-NEWS. Shareholders of Holding Company METALLOINVEST (“the Company”) today declared a dividend payment at the Company's Annual General Meeting (AGM). The dividend will be paid from 2013 net income and undistributed profit from previous years.

The dividend payment will amount to RUB 0.285 per ordinary share. Therefore, the dividend amount to be paid to the companies of USM Holdings (controls 100% of Holding Company METALLOINVEST) will total RUB 17.3 billion*. This amount will be used by shareholders to repay loans previously received from the Company.

In order to improve corporate governance practices and simplify the Company's organisational structure, from July 1, 2014 Management Company METALLOINVEST LLC will become the Sole Executive Body of Holding Company METALLOINVEST.

* - c. USD 511 mn at the exchange rate of the Central Bank of Russia as of June 27, 2014