Tenaris OKs US$135mn dividend payment

Wednesday, May 26, 2004

Luxembourg-based steel tube group Tenaris (NYSE: TS) agreed in a general shareholders meeting Wednesday (May 26) to pay an annual dividend payment of US$0.1144 per share - or US$135mn overall, the company announced.

Shareholders registered by June 9 will receive dividend payments June 14, the company said. Tenaris reported a 127% jump in net income last year to US$210mn.


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Also in the meeting, shareholders re-appointed PricewaterhouseCoopers as 2004 auditors and re-elected the board of directors.

Tenaris has Latin American pipe manufacturing plants in Argentina, Brazil, Mexico and Venezuela.