APERAM S.A. 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
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
