Ternium S.A. Approves $470M Dividend
Ticker: TX · Form: 6-K · Filed: Apr 30, 2024 · CIK: 1342874
| Field | Detail |
|---|---|
| Company | Ternium S.A. (TX) |
| Form Type | 6-K |
| Filed Date | Apr 30, 2024 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 5 min |
| Sentiment | bullish |
Sentiment: bullish
Topics: dividend, financial-results, shareholder-return
TL;DR
Ternium approved a $1.50/share dividend ($470M total), payable May 10th.
AI Summary
Ternium S.A. filed a Form 6-K on April 30, 2024, reporting on resolutions from its Annual General Meeting held on April 26, 2024. Key resolutions included the approval of the consolidated financial statements for the fiscal year ended December 31, 2023, and the distribution of a dividend of $1.50 per share, totaling approximately $470 million, payable on May 10, 2024.
Why It Matters
This filing confirms Ternium's financial performance for 2023 and signals a significant cash return to shareholders, impacting investor sentiment and the company's cash position.
Risk Assessment
Risk Level: low — This is a routine financial reporting filing confirming dividend approval and financial statements.
Key Numbers
- $470 million — Total Dividend (Approved for distribution to shareholders)
- $1.50 — Dividend Per Share (Amount approved for each share)
Key Players & Entities
- Ternium S.A. (company) — Registrant
- April 30, 2024 (date) — Filing date
- April 26, 2024 (date) — Annual General Meeting date
- December 31, 2023 (date) — Fiscal year end
- $1.50 per share (dollar_amount) — Dividend per share
- $470 million (dollar_amount) — Total dividend amount
- May 10, 2024 (date) — Dividend payment date
FAQ
What was the total amount of the dividend approved by Ternium S.A.?
The total dividend approved was approximately $470 million.
When was the dividend approved?
The dividend was approved at the Annual General Meeting held on April 26, 2024.
What is the dividend amount per share?
The dividend amount approved is $1.50 per share.
When will the dividend be paid?
The dividend is scheduled to be paid on May 10, 2024.
What period do the approved financial statements cover?
The approved financial statements cover the fiscal year ended December 31, 2023.
Filing Stats: 1,191 words · 5 min read · ~4 pages · Grade level 11.2 · Accepted 2024-04-30 16:22:02
Filing Documents
- a2024apr30agsmresolutions.htm (6-K) — 22KB
- 0001342874-24-000028.txt ( ) — 23KB
From the Filing
Document FORM 6 - K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Report of Foreign Private Issuer Pursuant to Rule 13a - 16 or 15d - 16 of the Securities Exchange Act of 1934 As of 4302024 Ternium S.A. (Translation of Registrant's name into English) Ternium S.A. 26, Boulevard Royal, 4th floor L-2449 Luxembourg (352) 2668-3152 (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or 40-F. Form 20-F a Form 40-F __ Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12G3-2(b) under the Securities Exchange Act of 1934. Yes __ No a If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b) Not applicable The attached material is being furnished to the Securities and Exchange Commission pursuant to Rule 13a-16 and Form 6-K under the Securities Exchange Act of 1934, as amended. This report contains the summary of the resolutions adopted in the Annual General Meeting of Shareholders of TERNIUM S.A. held on April 30, 2024. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. TERNIUM S.A. By s Guillermo Etchepareborda By s Sebastin Mart Name Guillermo Etchepareborda Name Sebastin Mart Title Attorney in Fact Title Attorney in Fact Dated April 30, 2024 Summary of the resolutions adopted in the Annual General Meeting of Shareholders of TERNIUM S.A. (the "Company") held at 26, Boulevard Royal, 4th Floor, L-2449, Luxembourg, on April 30, 2024, at 1200 p.m. (Luxembourg time) (the "Annual Meeting"). Annual Meeting 1. Consideration of the Company's 2023 Annual Report containing the consolidated management report and independent auditors report on the Company's consolidated financial statements as of December 31, 2023 and the Company's annual accounts as of December 31, 2023 and the independent auditors report thereon. Approval of the Company's consolidated financial statements as of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021. The Meeting resolved to acknowledge the Company's 2023 Annual Report and to approve the Company's consolidated financial statements as of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021. 2. Consideration of the independent auditor's report on the Company's annual accounts. Approval of the Company's annual accounts as at December 31, 2023. The Meeting resolved to approve the Company's annual accounts as at December 31, 2023. 3. Allocation of results for the year ended December 31, 2023. The Meeting resolved (i) to approve a dividend, payable in U.S. dollars, on May 8, 2024, in the amount of USD 0.33 per share (or USD 3.30 per ADS), being understood that the dividend approved pursuant to this resolution includes the Interim Dividend of USD 0.11 per share (USD 1.10 per ADS) paid on November 16, 2023, (ii) to authorize the Board of Directors to determine or amend, in its discretion, any of the terms and conditions of such dividend payment, including the applicable record date, (iii) that the aggregate amount of approximately USD 432 million (which is net of the Company's Treasury Shares) to be distributed as dividend in the amount of USD 0.22 per Share (or USD 2.20 per ADS) on May 8, 2024, be paid from the Company's retained earnings reserve, and (iv) that the loss of the year ended December 31, 2023, be absorbed by the Company's retained earnings account. 4. Discharge of members of the Board of Directors for the exercise of their mandate during the year ended December 31, 2023. The Meeting resolved to discharge all those who were members of the Board of Directors during the year ended December 31, 2023 from any liability in connection with the management of the Company's affairs during such year. 5. Election of the members of the Board of Directors. The Meeting resolved that (i) the number of members of the Board of Directors be maintained at eight and (ii) Mr. Roberto Bonatti, Mr. Carlos Alberto Condorelli, Mr. Vincent Robert Gilles Decalf, Mr. Gianfelice Mario Rocca, Mr. Paolo Rocca, Mr. Daniel Agustin Novegil, Ms. Gioia Mara Ghezzi and Ms. Lorenza Martnez Trigueros be re-elected as members of the Board of Directors, each to hold office until the next annual general meeting of shareholders that will be convened to decide on the Company's 2024 annual accounts. 6. Authorization of the compensation of the members of the Board of Directors for the year 2024. The Meeting resolved that each of the members of the Board of Directors receive an amount of USD 115,000 as compensation for their services during the fiscal year 2024, and that the Chai