Shareholders Approve all Resolutions on the Agenda of Ternium's Annual General Meeting
Ternium S.A. (NYSE:TX) shareholders approved all resolutions at the annual general meeting held on April 30, 2024. This included the approval of financial statements for the year ended December 31, 2023, and a proposed annual dividend of $0.33 per share ($3.30 per ADS). The meeting also re-elected current board members and appointed auditors for the fiscal year ending December 31, 2024. Mr. Paolo Rocca was re-appointed as chairman, Mr. Daniel Agustín Novegil as vice-chairman, and Mr. Máximo Vedoya as chief executive officer.
Shareholders approving all resolutions at the annual general meeting indicates confidence in the company's financial health and direction.
The proposed annual dividend of $0.33 per share ($3.30 per ADS) shows a commitment to rewarding shareholders.
The re-election of the current board members ensures continuity and stability in the company's leadership.
There are no significant negative aspects reported in the press release.
LUXEMBOURG / ACCESSWIRE / April 30, 2024 / Ternium S.A. (NYSE:TX) announced that its annual general meeting of shareholders held on April 30, 2024, approved all resolutions on its agenda.
Among other resolutions adopted, the shareholders approved the Company's financial statements for the year ended December 31, 2023, and the proposed annual dividend of
The annual general meeting resolved to maintain the number of directors at eight, approved the re-election of the eight current members of the board of directors, Mr. Roberto Bonatti, Mr. Carlos Alberto Condorelli, Mr. Vincent Robert Gilles Decalf, Ms. Gioia Ghezzi, Mr. Daniel Agustín Novegil, Mr. Gianfelice Mario Rocca, Mr. Paolo Rocca and Ms. Lorenza Martinez Trigueros. All board members will hold office until the meeting that will be convened to decide on the 2024 accounts. The meeting also re-appointed PricewaterhouseCoopers, Societé coopérative, Cabinet de révision agréé, as Ternium's independent auditors for the fiscal year ending December 31, 2024.
The board of directors subsequently re-appointed Mr. Paolo Rocca as its chairman, Mr. Daniel Agustín Novegil as vice-chairman and Mr. Máximo Vedoya as Ternium's chief executive officer. The board of directors also confirmed and re-appointed Mr. Vincent Robert Gilles Decalf, Ms. Gioia Ghezzi and Ms. Lorenza Martinez Trigueros as members of Ternium's audit committee, with Mr. Decalf to continue to chair the committee. All three members of the audit committee qualify as independent directors under the Company's articles of association.
For a summary of the resolutions adopted at the meetings, please see the report on Form 6-K submitted to the U.S. Securities and Exchange Commission, available at www.sec.gov.
Forward Looking Statements
Some of the statements contained in this press release are "forward-looking statements". Forward-looking statements are based on management's current views and assumptions and involve known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied by those statements. These risks include but are not limited to risks arising from uncertainties as to gross domestic product, related market demand, global production capacity, tariffs, cyclicality in the industries that purchase steel products and other factors beyond Ternium's control.
About Ternium
Ternium is a leading steel producer in the Americas, providing advanced steel products to a wide range of manufacturing industries and the construction sector. We invest in low carbon emissions steelmaking technologies to support the energy transition and the mobility of the future. We also support the development of our communities, especially through educational programs in Latin America. More information about Ternium is available at www.ternium.com.
Contact:
Sebastián Martí
Ternium - Investor Relations
+1 (866) 890 0443
+54 (11) 4018 8389
www.ternium.com
SOURCE: Ternium S.A.
View the original press release on accesswire.com
FAQ
<p>What was the proposed annual dividend approved at Ternium's annual general meeting?</p>
The proposed annual dividend approved at Ternium's annual general meeting was $0.33 per share ($3.30 per ADS).
<p>When will the net dividend be paid to shareholders?</p>
The net dividend of $0.22 per share ($2.20 per ADS) will be paid on May 8, 2024, to all shareholders of record as of May 3, 2024.
<p>Who was re-appointed as Ternium's chief executive officer?</p>
Mr. Máximo Vedoya was re-appointed as Ternium's chief executive officer at the annual general meeting.
