Key Developments: Tenaris SA (TS)

TS on New York Consolidated

28.86USD
28 May 2015
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Latest Key Developments (Source: Significant Developments)

Tenaris SA corrects Usiminas investment value
Monday, 18 May 2015 05:39am EDT 

Tenaris SA:Corrects book value of its investment Usinas Siderurgicas de Minas Gerais SA (Usiminas) and restates financial statements to reduce book value of the investment to $122 million as of Sept. 30, 2014.As a result, also restates financial statements for Dec. 31, 2014 and March 31, 2015.Lowers total assets by $236 million as of Sept. 30, 2014.Lowers total assets by $165 million as of Dec. 31, 2014.Lowers total assets by $104 million as of March 31, 2014.Lowers income statement by $236 million, $185 million and increases by $33 million in the same consecutive quarterly financial statements.Cash flow statements remain unchanged.  Full Article

Tenaris SA approves FY 2014 dividend
Wednesday, 6 May 2015 06:55pm EDT 

Tenaris SA:Approves FY 2014 dividend of $0.45 per share (or 0.90 per ADS).That is a total of $531 mln and includes dividend advance of $0.15 per share paid in Nov. 2014.To pay out remaining $0.30 per share on May 20, ex-dividend date set to May 18.  Full Article

Tenaris SA to temporarily suspend operation at mill in Conroe, TX
Sunday, 22 Feb 2015 07:00pm EST 

Tenaris SA:Says that it will temporarily suspend operations at its welded tubes mill in Conroe, TX, resulting in the layoff of about 230 employees, effective April 24, 2015.Record levels of unfairly traded imports of OCTG (oil country tubular goods) from South Korea and the sharp decline in the price of oil and consequential reduction in drilling activity have driven Tenaris to make this decision.  Full Article

Tenaris SA approves the payment of an interim dividend
Wednesday, 5 Nov 2014 04:45pm EST 

Tenaris SA:Approves the payment of an interim dividend of $0.15 per share.Payment date will be Nov. 27 (however, because such date is not a business day in the U.S., shareholders in all jurisdictions may receive their interim dividend on or after Nov. 28, 2014, which is the first business day following the stated payment date).Ex-dividend date will be Nov. 24.  Full Article

Tenaris SA extends term of NKKTUBES joint venture agreement through 2030
Friday, 23 May 2014 04:15pm EDT 

Tenaris SA:Completes the renegotiation of its joint venture agreement with JFE Steel Corporation for the governance and operation of NKKTUBES.NKKTUBES is Japanese seamless steel pipe manufacturer that produces a wide range of carbon, alloy and stainless steel pipes for the domestic and export markets.Tenaris holds 51 pct interest in NKKTUBES, while JFE Steel Corporation holds the remaining 49 pct.Joint venture agreement, which was due to expire on July 31, 2015, will now run through July 31, 2030.JFE Steel Corporation will continue to supply steel billets and other essential inputs and services to NKKTUBES under existing supply agreements.  Full Article

Tenaris SA issues guidance for FY 2014
Thursday, 1 May 2014 08:23pm EDT 

Tenaris SA:Expects its overall results for 2014 to be in line with those for 2013.  Full Article

Tenaris SA proposes annual dividend
Thursday, 20 Feb 2014 04:03pm EST 

Tenaris SA:Proposes an annual dividend of $0.43 per share.Payable on May 22 with an ex-dividend date of May 19.  Full Article

Tenaris SA Announces Interim Dividend Payment
Wednesday, 6 Nov 2013 04:05pm EST 

Tenaris SA announced that its Board of Directors approved the payment of an interim dividend of $0.13 per share ($0.26 per ADS), or approximately $153 million. The payment date will be November 21, 2013, and the ex-dividend date will be November 18, 2013.  Full Article

Tenaris SA And Tecpetrol Tecpetrol to Build and Operate Power Plant in Me
Monday, 19 Aug 2013 01:02am EDT 

Tenaris S.A., Ternium S.A And Tecpetrol International S.A. announced that they have entered into a memorandum of understanding to jointly build and operate a natural gas-fired combined cycle electric power plant in Mexico, which would supply Tenaris's and Ternium's respective Mexican industrial facilities. Together, both companies are one of the largest private energy consumers in Mexico. Tecpetrol is a wholly-owned subsidiary of San Faustin S.A., the controlling shareholder of both Tenaris and Ternium.  Full Article

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