Azovstal (AZST) shareholders approved a USD 263.3 mln dividend payout, 36% of 2007 net income and 50% of 2006 net income, at their AGM on Saturday. Dividends will be paid out from December 15, 2008 to October 24, 2011. Ex-dividend date is December 15, 2008. This dividend payment implies a 39% dividend yield to today’s mid-market price (UAH 0.31 dividend per share).