The world's largest producer of high-quality round steel SBQ, the American company TimkenSteel, is suspending its quarterly dividend program for the first time since 2014.
The decision of the Board of Directors is based on a sharp deterioration in the market situation.
The last dividend was paid on September 10, 2015 at 14 cents per share.
TimkenSteel is the world's leading manufacturer of special grade round timber for quality steels with diameters from 6 inches and above. The production facilities of the company allow to produce more than 2 million tons of rolled metal products annually.
In the third quarter of 2015, TimkenSteel posted a net loss of $ 20.5 million. Following the results of nine months, the company's net profit decreased 14 times to 15 million US dollars.
TimkenSteel stops paying quarterly dividends
|
Azovpromstal® 14 November 2015 г. 10:44 |
