The board of directors at Polyus Gold, Russia's leading gold producer, recommended on Monday that shareholders vote to waive dividends for 2008 at their annual general meeting, the company said in a statement. Polyus Gold general director Yevgeny Ivanov said earlier that the company was not planning to adjust its dividend policy, despite the global crisis, and intended to pay dividends for 2008. The company's policy is to pay up to 25 percent of net profit to IFRS but, when making its dividend recommendation, the board takes limitations imposed by the need to fund operating and investment activity into consideration.
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