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.
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