UPDATE 1-Russia's Nornickel says financial stability is priority, not dividends

Russian metals producer Nornickel, said on Friday that the financial stability of the company was more important then dividends but shareholders had the final say on the matter. Dividends are a sensitive subject for Nornickel, the world's largest palladium producer and a major producer of high-grade nickel. Disagreements on the issue have for years been the main reason for on-and-off rows between its main owners, chief executive and largest shareholder Vladimir Potanin and aluminium producer Rusal .