• Corporate governance
  • Code of corporate conduct
  • Charter of OMZ
  • Dividend policy
  • Bylaw on General Shareholders Meeting
  • Bylaw on the Board of Directors
  • Bylaw on the Audit Committee
  • Bylaw on Remuneration and Reimbursement of expenses to the Members of the Board of Directors
  • Bylaw on the Executive Board
  • Bylaw on the Audit Comission
  • Bylaw on the Corporate Secretary
  • Regulation on Information Policy
  • General information for shareholders
• AGM
• OMZ stocks
• Bonds
• Credit ratings
• Annual reports
• Financial Statements

Dividend policy

Shares of common stock

The current dividend policy was approved at the meeting of the OMZ Board of Directors on December 19, 2002. The policy stipulates that OMZ intends to make no dividend payments to holders of shares of common stock for the three fiscal years ending 31 December 2002, 2003 and 2004. This decision was motivated by the substantial investment requirements for the upgrade and optimization of its manufacturing and service facilities as well as for the introduction of advanced management information systems across all of its business segments. The management of the Company believes that such operational improvements would result in a better valuation of OMZ’s shares which in turn should represent a significant source of benefits for the holders of OMZ’s shareholders during the above-mentioned period and beyond.

It is the intent of the OMZ Board of Directors to review the dividend policy of the Company in 2005.

Shares of preferred stock

OMZ will continue to pay a dividend at an annual fixed rate of 12% of the par value (RUR 0.1 per share) of its preferred shares.

OMZ publishes dividend and ex-dates for this dividend payout as those dates are set by the OMZ’s AGM. The dividend is paid annually, usually in the fourth quarter of each calendar year.