Alcoa Inc. Announces Revised Record Date for Quarterly Cash Dividend for Common Stock
October 19 2016 - 4:23PM
Business Wire
On September 29, 2016, the Board of Directors (the “Board”) of
Alcoa Inc. (NYSE:AA) (the “Company”) declared a quarterly common
stock dividend of 9 cents per share, payable on November 25, 2016,
to holders of record as of the close of business on November 4,
2016.
The Company’s separation into two publicly-traded companies is
scheduled to occur on November 1, 2016. For administrative reasons
related to the separation and distribution on November 1st, the
Board has revised the record date for the November 25, 2016
dividend, by moving it from November 4 to November 11, 2016.
Accordingly, the November 25, 2016 dividend will now be payable to
shareholders of record at the close of business on November 11,
2016.
Upon separation, Alcoa Inc. will be renamed Arconic Inc. The
quarterly common stock dividend declared by Alcoa Inc. will be paid
on November 25, 2016 by Arconic Inc.
Following the separation, the boards of directors of Arconic and
Alcoa Corporation will review and determine the dividend policy of
each company.
Arconic’s shares of common stock will trade under the symbol
ARNC.
Dissemination of Company Information
Alcoa intends to make future announcements regarding Company
developments and financial performance through its website at
www.alcoa.com.
About Alcoa
A global leader in lightweight metals technology, engineering
and manufacturing, Alcoa innovates multi-material solutions that
advance our world. Our technologies enhance transportation, from
automotive and commercial transport to air and space travel, and
improve industrial and consumer electronics products. We enable
smart buildings, sustainable food and beverage packaging, high
performance defense vehicles across air, land and sea, deeper oil
and gas drilling and more efficient power generation. We pioneered
the aluminum industry over 125 years ago, and today, our
approximately 57,000 people in 30 countries deliver value-add
products made of titanium, nickel and aluminum, and produce
best-in-class bauxite, alumina and primary aluminum products. For
more information, visit www.alcoa.com, follow @Alcoa on Twitter at
www.twitter.com/Alcoa and follow us on Facebook at
www.facebook.com/Alcoa.
Forward-Looking Statements
This communication contains statements that relate to future
events and expectations and as such constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include those
containing such words as “anticipates,” “believes,” “could,”
“estimates,” “expects,” “forecasts,” “intends,” “may,” “outlook,”
“plans,” “projects,” “seeks,” “sees,” “should,” “targets,” “will,”
“would,” or other words of similar meaning. All statements that
reflect the Company’s expectations, assumptions or projections
about the future, other than statements of historical fact, are
forward-looking statements, including, without limitation,
statements regarding the separation transaction. Forward-looking
statements are not guarantees of future performance and are subject
to risks, uncertainties, and changes in circumstances that are
difficult to predict. Although the Company believes that the
expectations reflected in any forward-looking statements are based
on reasonable assumptions, it can give no assurance that these
expectations will be attained and it is possible that actual
results may differ materially from those indicated by these
forward-looking statements due to a variety of risks and
uncertainties. Such risks and uncertainties include, but are not
limited to: (a) the possibility that various closing conditions for
the separation may not be satisfied; (b) the outcome of
contingencies, including legal proceedings; (c) the impact of the
separation on the businesses of Alcoa; (d) the risk that the
businesses will not be separated successfully or such separation
may be more difficult, time-consuming or costly than expected,
which could result in additional demands on Alcoa’s resources,
systems, procedures and controls, disruption of its ongoing
business and diversion of management’s attention from other
business concerns; and (e) the other risk factors discussed in the
Company’s Form 10-K for the year ended December 31, 2015, and other
reports filed with the SEC. The Company disclaims any obligation to
update publicly any forward-looking statements, whether in response
to new information, future events or otherwise, except as required
by applicable law.
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version on businesswire.com: http://www.businesswire.com/news/home/20161019006457/en/
AlcoaInvestor Contact:Matthew Garth,
212-836-2714Matthew.Garth@alcoa.comorMedia Contact:Monica Orbe,
212-518-5455Monica.Orbe@alcoa.com
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