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Acron Retreats Most in Week as Shareholders Vote Against Divdend

OAO Acron, a Russian fertilizer maker, fell the most in almost a week after shareholders voted against paying a final 2011 dividend.

The stock dropped as much as 2 percent to 1,125 rubles, the steepest intraday decline since June 22, and traded down 0.9 percent as of 4 p.m. in Moscow.

Shareholders rejected a payout of 46 rubles ($1.39) per share, according to an a regulatory filing today. Elena Kochubey, a spokeswoman for the company, declined to elaborate on the reasons for this decision. Russian billionaire Viatcheslav Kantor owns 84.6 percent in Acron, according to the company.

To contact the reporter on this story: Alex Nicholson in Moscow at anicholson6@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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