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LUXEMBOURG, May 02, 2018 -- Tenaris S.A. (NYSE:TS) (BAE:TS) (BMV:TS) (MILAN:TEN) announced that its annual general meeting of shareholders and its extraordinary general meeting of shareholders approved today all resolutions on their agendas.
Among other resolutions adopted at the annual general meeting, the shareholders approved the consolidated financial statements as of and for the year ended December 31, 2017 and the annual accounts as at December 31, 2017, and acknowledged the related management and independent auditors’ reports and certifications.
The annual general meeting also approved the payment of a dividend for the year ended December 31, 2017, of US$0.41 per share (or US$0.82 per ADS), or approximately US$484 million, which includes the interim dividend of US$0.13 per share (or US$0.26 per ADS) paid in November 2017. Tenaris will pay the balance of the annual dividend in the amount of US$0.28 per share (US$0.56 per ADS) on May 23, 2018, with an ex-dividend date of May 21, 2018.
The annual general meeting decided to increase the number of members of the board of directors to eleven (11), by electing Mr. German Curá and Ms. Mónica Tiuba and re-electing Messrs. Roberto Bonatti, Carlos Condorelli, Roberto Monti, Gianfelice Mario Rocca, Paolo Rocca, Jaime Serra Puche, Yves Speeckaert, Amadeo Vázquez y Vázquez and Guillermo Vogel, each to hold office until the meeting that will be convened to decide on the 2018 annual accounts.
The board of directors subsequently confirmed and re-appointed Roberto Monti, Jaime Serra Puche and Amadeo Vázquez y Vázquez as members of Tenaris’s audit committee and appointed Ms. Tiuba as a new member of the audit committee, with Mr. Vázquez y Vázquez to continue as chairman. All four members of the audit committee qualify as independent directors under the articles and applicable law.
The annual meeting appointed PricewaterhouseCoopers S.C., Réviseurs d’entreprises agréé, as Tenaris’s independent auditors for the fiscal year ending December 31, 2018.
The extraordinary general meeting of shareholders also held today approved certain amendments to Tenaris's articles of association.
Copies of the minutes of the annual general meeting and the extraordinary general meeting, as well as the amended articles of association, can be downloaded from Tenaris’s website at www.tenaris.com/investors.
Tenaris is a leading global supplier of steel tubes and related services for the world’s energy industry and certain other industrial applications.
Giovanni Sardagna
Tenaris
1-888-300-5432
www.tenaris.com
