[Ferro-Alloys.com] TMK, Russia's largest maker of steel pipes, said first-quarter shipments fell 3 percent year-on-year to 1.02 million tonnes and forecast a marginal decrease in shipments for 2014.

TMK, controlled by businessman Dmitry Pumpyansky, also said Russian demand for tubular products would fall slightly in 2014 due to "the unstable macroeconomic environment, exchange rate volatility and uncertainty in commodity markets."

The company said its board had recommended paying a final dividend for 2013 of 0.78 roubles ($0.02) per share, which would make the total payout for the year amount to a quarter of company profit.

A final decision on the dividend payout will be made at the company's annual general meeting on June 19.

• [Editor:Yueleilei]