Bloomberg News

TMK Proposes Barclays’ Foresman for Board, Raising 2011 Dividend

May 18, 2012

OAO TMK, Russia’s largest pipemaker, asked shareholders to vote on new board directors and increasing dividends at a June 26 annual meeting.

The board recommended an $82 million dividend payout, equivalent to 2.70 rubles a share, TMK said in an e-mailed statement today.

TMK also proposed Bob Foresman, head of Barclays Plc in Russia, and Peter O’Brien, a former vice president at Russia’s largest oil company, OAO Rosneft, among the board nominees, according to the statement.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net


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