The board of directors at PAO Severstal recommended that shareholders approve a dividend of 35.61 Russian rubles per share for the three months that ended Sept. 30.
Shareholders will vote on the dividend at a Nov. 24 extraordinary meeting, Severstal said Oct. 17. If approved, the dividend will have a Dec. 5 record date.
In July, the Russian steel producer proposed a dividend of 22.28 rubles per share for the first half of 2017.
As of Oct. 16, US$1 was equivalent to 57.26 Russian rubles.