Dividend

In coherence with Aperam’s Financial Policy (Link), Aperam’s dividend policy consists of a base dividend, anticipated to progressively increase over time. 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, then the Company will review the dividend policy.

Dividend technicalities

On 10 February 2021 Aperam announced its detailed dividend payment schedule for 2021.

The Company proposed to maintain its base dividend at EUR 1.75/share, as approved at the Annual General Meeting of June 8, 2021.

The dividend payments would occur in four equal quarterly installments of EUR 0.4375 (gross) per share in 2021 as described below in the detailed dividend schedule.

Dividends are announced in Euros. Dividends are paid in Euros for shares listed on the European Stock Exchanges (Amsterdam, Brussels, Paris, Luxembourg). Dividends 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 converted from Euros to US dollars 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.

Table: Detailed dividend schedule 2021

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 HERE.

With respect to the shares held via Euroclear Nederland, ABN AMRO is offering a dividend reinvestment plan (DRIP) Shareholders have the opportunity to reinvest their net dividend in ordinary shares Aperam. Shareholders should make the election to participate in the DRIP via their own bank, broker, custodian or financial institution.