Shareholders approve all resolutions on the agenda of Tenaris’s Annual General Meeting
May 06 2019 - 4:56PM
Tenaris S.A. (NYSE, Buenos Aires and Mexico: TS and MTA Italy: TEN)
announced that its annual general meeting of shareholders approved
today all resolutions on the agenda.
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, 2018
and the annual accounts as at December 31, 2018, and acknowledged
the related management and external auditors’ reports and
certifications.
The annual general meeting also approved the
payment of a dividend for the year ended December 31, 2018, 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 2018. 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 22, 2019, with an ex-dividend date
of May 20, 2019.
The annual general meeting approved the
re-election of the eleven current members of the board of
directors, Roberto Bonatti, Carlos Condorelli, Germán Curá, Roberto
Monti, Gianfelice Mario Rocca, Paolo Rocca, Jaime Serra Puche, Yves
Speeckaert, Mónica Tiuba, Amadeo Vázquez y Vázquez and Guillermo
Vogel, each to hold office until the meeting that will be convened
to decide on the 2019 annual accounts.
The board of directors subsequently confirmed
and re-appointed Roberto Monti, Jaime Serra Puche, Mónica Tiuba and
Amadeo Vázquez y Vázquez as members of Tenaris’s audit committee,
with Mr. Vázquez y Vázquez to continue as chairman. All four
members of the audit committee qualify as independent directors for
purposes of the U.S. Securities Exchange Act Rule 10A-3(b)(1), and
audit committee members Monti, Serra Puche and Vázquez y Vázquez
also qualify as independent directors under the Company’s articles
of association.
The annual meeting appointed
PricewaterhouseCoopers S.C., Réviseurs d’entreprises agréé, as
Tenaris’s external auditors for the fiscal year ending December 31,
2019.
Copies of the minutes of the annual general
meeting 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 SardagnaTenaris1-888-300-5432www.tenaris.com
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