GrafTech Declares Special Cash Dividend of $0.70 per Share
27 11월 2018 - 7:25AM
Business Wire
The Board of Directors of GrafTech International Ltd. (NYSE:EAF)
("GrafTech") approved a special cash dividend of $0.70 per share,
which is expected to total approximately $204 million. This
dividend will be payable December 31, 2018 to holders of record as
of December 7, 2018.
"GrafTech remains committed to a responsible and shareholder
friendly financial policy, including returning cash to our
shareholders in an efficient and disciplined manner," said GrafTech
CEO David Rintoul. "This special cash dividend demonstrates our
continued commitment to returning value to shareholders."
About GrafTech
GrafTech International Ltd. is a leading manufacturer of high
quality graphite electrode products essential to the production of
electric arc furnace (or EAF) steel and other ferrous and
non-ferrous metals. The Company has a competitive portfolio of
low-cost graphite electrode manufacturing facilities, including
three of the highest capacity facilities in the world. GrafTech is
also the only large scale graphite electrode producer that is
substantially vertically integrated into petroleum needle coke, the
primary raw material for graphite electrode manufacturing, which is
currently in limited supply. This unique position provides
competitive advantages in product quality and cost.
Special note regarding forward-looking
statements
This news release may contain forward-looking statements that
reflect our current views with respect to, among other things,
future events and financial performance. You can identify these
forward-looking statements by the use of forward-looking words such
as “will,” “may,” “plan,” “estimate,” “project,” “believe,”
“anticipate,” “expect,” “intend,” “should,” “would,” “could,”
“target,” “goal,” “continue to,” “positioned to,” "are confident",
"remain optimistic" or the negative version of those words or other
comparable words. Any forward-looking statements contained in this
news release are based upon our historical performance and on our
current plans, estimates and expectations in light of information
currently available to us. The inclusion of this forward-looking
information should not be regarded as a representation by us that
the future plans, estimates or expectations contemplated by us will
be achieved. Our expectations and targets are not predictions of
actual performance and historically our performance has deviated,
often significantly, from our expectations and targets. These
forward-looking statements are subject to various risks and
uncertainties and assumptions relating to our operations, financial
results, financial condition, business, prospects, growth strategy
and liquidity. Accordingly, there are or will be important factors
that could cause our actual results to differ materially from those
indicated in these statements. We believe that these factors
include, but are not limited to: our history of net losses and the
possibility that we may not maintain profitability in the future;
the possibility that we may be unable to implement our business
strategies, including our initiative to secure and maintain
longer-term customer contracts, in an effective manner; the
possibility that recent tax legislation could adversely affect us
or our stockholders; the fact that pricing for graphite electrodes
has historically been cyclical and, in the future, the price of
graphite electrodes will likely decline from recent record highs;
the sensitivity of our business and operating results to economic
conditions; our dependence on the global steel industry generally
and the EAF steel industry in particular; the possibility that
global graphite electrode overcapacity may adversely affect
graphite electrode prices; the competitiveness of the graphite
electrode industry; our dependence on the supply of petroleum
needle coke; our dependence on supplies of raw materials (in
addition to petroleum needle coke) and energy; the legal, economic,
social and political risks associated with our substantial
operations in multiple countries; the possibility that fluctuation
of foreign currency exchange rates could materially harm our
financial results; the possibility that our results of operations
could deteriorate if our manufacturing operations were
substantially disrupted for an extended period, including as a
result of equipment failure, climate change, natural disasters,
public health crises, political crises or other catastrophic
events; the possibility that plant capacity expansions may be
delayed or may not achieve the expected benefits; our dependence on
third parties for certain construction, maintenance, engineering,
transportation, warehousing and logistics services; the possibility
that we are unable to recruit or retain key management and plant
operating personnel or successfully negotiate with the
representatives of our employees, including labor unions; the
possibility that we may divest or acquire businesses, which could
require significant management attention or disrupt our business;
the sensitivity of goodwill on our balance sheet to changes in the
market; the possibility that we are subject to information
technology systems failures, cybersecurity attacks, network
disruptions and breaches of data security; our dependence on
protecting our intellectual property; the possibility that third
parties may claim that our products or processes infringe their
intellectual property rights; the possibility that our
manufacturing operations are subject to hazards; changes in, or
more stringent enforcement of, health, safety and environmental
regulations applicable to our manufacturing operations and
facilities; the possibility that significant changes in our
jurisdictional earnings mix or in the tax laws of those
jurisdictions could adversely affect our business; the possibility
that our indebtedness could limit our financial and operating
activities or that our cash flows may not be sufficient to service
our indebtedness; the possibility that restrictive covenants in our
financing agreements could restrict or limit our operations; the
fact that borrowings under certain of our existing financing
agreements subjects us to interest rate risk; the possibility of a
lowering or withdrawal of the ratings assigned to our debt; the
possibility that disruptions in the capital and credit markets
could adversely affect our results of operations, cash flows and
financial condition, or those of our customers and suppliers; the
possibility that highly concentrated ownership of our common stock
may prevent minority stockholders from influencing significant
corporate decisions; the fact that certain of our stockholders have
the right to engage or invest in the same or similar businesses as
us; the fact that certain provisions of our Amended and Restated
Certificate of Incorporation and our Amended and Restated By-Laws
could hinder, delay or prevent a change of control; the fact that
the Court of Chancery of the State of Delaware will be the
exclusive forum for substantially all disputes between us and our
stockholders; our status as a “controlled company” within the
meaning of the NYSE corporate governance standards, which allows us
to qualify for exemptions from certain corporate governance
requirements; and other risks described in the “Risk Factors”
section of our quarterly reports on Form 10-Q and other filings
with the SEC.
These factors should not be construed as exhaustive and should
be read in conjunction with the other cautionary statements that
are included in our quarterly reports on Form 10-Q and other
filings with the SEC. The forward-looking statements made in this
press release relate only to events as of the date on which the
statements are made. We do not undertake any obligation to publicly
update or review any forward-looking statement, except as required
by law, whether as a result of new information, future developments
or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20181126005774/en/
Meredith H. Bandy, CFAVice President, Investor Relations &
Corporate Communications216-676-2699
GrafTech (NYSE:EAF)
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