Dividend Proposal Turned Down
In a recent development, shareholders of Rusal, the Russian aluminium giant, have voted against paying a dividend for the first nine months of 2023. This decision comes despite the proposal put forward by blockholder Sual Partners, which holds a 25.52% stake in Rusal.
Board of Directors’ Recommendation
Rusal’s board of directors had recommended that shareholders reject the interim dividend proposal. This recommendation aligns with the decision taken in the shareholders’ meeting.
Background on Dividend Requests
Sual Partners had previously made similar requests for interim dividends, which were not successful. These included attempts for the first nine months of 2021 and the first half of the same year. Rusal had resumed paying dividends in 2022, disbursing approximately $303.86 million for the first half of the year, marking the first such payment since 2017. However, the company decided against a final dividend payment at the end of the year.