Gerdau announces shareholder payments
Bnamericas Published: Friday, December 19, 2003
Brazilian long steelmaker Gerdau (NYSE: GGB) will pay interest on capital of 523mn reais (US$178mn) to the company's shareholders, the company said in a statement to Sao Paulo's stock exchange Bovespa. The payment incudes 172mn reais from Metalurgica Gerdau steel company and 351mn reais from Gerdau holding company and will substitute dividend payment. Gerdau operates 23 plants in Brazil, the US, Canada, Argentina, Chile and Uruguay. It is the largest long steel producer in the Americas with installed capacity of 14Mt/y.
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