The board of directors of Russia’s largest truck maker KamAZ has recommended its annual shareholder meeting, scheduled for June 29, to vote against paying dividends for 2011, the company said on Friday.
KamAZ also rejected dividend payment s for 2009 and 2010, the company said.
KamAZ is the world’s eleventh largest truck maker and the eighth largest producer of diesel engines. KamAZ has 96 plants that produce more than 30 models of trucks, as well as trailers, buses, tractors and spare parts. It also manufactures engines, power units, and components.