Aperam announces dividend payment schedule for 2016
11 February 2016 - 3:55AM
Luxembourg, 10
February 2016 - Aperam announces its detailed dividend payment
schedule for 2016. As announced on 5 November , 2015, Aperam
declared its financial policy to maximize the long term growth and
sustainability of the company as well as the value accretion for
its shareholders while maintaining a strong balance sheet. Subject
to shareholders approval at the 2016 annual general meeting of
shareholders, Aperam restates a base dividend of $1.25 per share,
and anticipated to progressively increase over time as the company
continues to improve its sustainable profitability benefiting from
its strategic actions. The company targets a Net Financial
Debt/EBITDA ratio of <1x (through the cycle). In the (unlikely)
event that Net Financial Debt/EBITDA exceeds 1x, the Company will
suspend the cash dividend. The dividend will be paid in four equal
quarterly installments of $0.3125 (gross) per share.
The dividend payments would occur
on a quarterly basis in 2016 on 30 March 2016, 14 June 2016, 12
September 2016 and 12 December 2016, taking into account that the
first quarterly dividend payment to be paid on 30 March, 2016 shall
be an interim dividend.
Dividends are announced in US
dollars. They are paid in US dollars for shares traded in the
United States on the over-the-counter market in the form of New
York registry shares and paid in Euros for shares listed on the
European Stock Exchanges (Netherlands, France, Luxembourg).
Dividends to be paid in Euros are converted from US dollars to
Euros based on the European Central Bank exchange rate at the date
mentioned in the table below.
A Luxembourg withholding tax of 15% is applied on the gross
dividend amounts.
In order to benefit from exemption
of Luxembourg dividend withholding tax at source, an "Informative
Memorandum" describing the procedure to obtain an exemption at
source of the Luxembourg dividend withholding tax is available
under, Investors & shareholders, Dividends.
About Aperam
Aperam is a global player in
stainless, electrical and specialty steel, with customers in over
40 countries. The business is organized in three primary operating
segments: Stainless & Electrical Steel, Services &
Solutions and Alloys & Specialties.
Aperam has 2.5 million tonnes of
flat Stainless and Electrical steel capacity in Brazil and Europe
and is a leader in high value specialty products. Aperam has a
highly integrated distribution, processing and services network and
a unique capability to produce stainless and specialty from low
cost biomass (charcoal). Its industrial network is concentrated in
six production facilities located in Brazil, Belgium and
France.
In 2015, Aperam had sales of USD 4.7 billion and shipments of 1.89
million tonnes.
For further information, please refer to our website at
www.aperam.com
Contact
Corporate Communications / Laurent Beauloye: +352
27 36 27 27
Investor Relations / Romain Grandsart: +352 27 36 27 36
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Aperam via Globenewswire
HUG#1985294
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