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Severstal board recommends Q3 dividend of 35.61 rubles per share

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.