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Annual General Meeting of voestalpine AG approves dividend of EUR 0.80 per share

2011-07-06 | 

At the 19th Annual General Meeting of voestalpine AG today, July 6, 2011, a dividend of EUR 0.80 per dividend-bearing share was approved, which will be paid out starting July 18. The shareholders thus supported the recommendation of the Management Board and the Supervisory Board.

Compared to the previous year (EUR 0.50 per share), this represents an increase of EUR 0.30 per share or 60.0%. Taking the average share price of EUR 28.77 into consideration, the dividend yield of the voestalpine share during the business year 2010/11 was 2.78% (2009/10: 2.23%)

Wolfgang Eder, Chairman of the Management Board and CEO of voestalpine AG, emphasized the company’s “consistent dividend policy” as a result of which EUR 1.6 billion in dividends have been paid out to shareholders since the company’s IPO in 1995.

The voestalpine Group

voestalpine is a globally active group with a number of specialized and flexible companies that produce, process and further develop high-quality steel products. The Group is represented by 360 production and sales companies in more than 60 countries. With its highest quality flat steel products, voestalpine is one of Europe's leading partners to the automotive, white goods, and energy industries. Furthermore, voestalpine is the world market leader in turnout technology, tool steel, and special sections, as well as number one in Europe in the production of rails. In the business year 2010/11, the voestalpine Group generated revenues of around EUR 11 billion, and achieved an operating result (EBIT) of almost EUR 1 billion; the Group has around 47,000 employees worldwide.