Contact Information: Contact: Nigel Worsnop Tenaris 1-888 300 5432 www.tenaris.com
Tenaris Confirms Dividend Payment and Election of Directors
| Source: Tenaris
LUXEMBOURG--(Marketwire - June 4, 2008) - Tenaris S.A. (NYSE : TS ) (BAE : TS ) (MXSE : TS )
(MILAN : TEN ), in its annual general shareholders meeting today, approved
the consolidated financial statements and the report and accounts of the
Company for the year ended December 31, 2007, as well as the payment of an
annual dividend of US$0.38 per share, (US$0.76 per ADS), or approximately
US$450 million. The amount approved includes the interim dividend
previously paid on November 22, 2007, in the amount of US$0.13 per share
(US$0.26 per ADS). Tenaris will pay the balance of the annual dividend
amounting to US$0.25 per share (US$0.50 per ADS), or approximately US$295
million, on June 26, 2008 with a record date of June 25, 2008 and an
ex-dividend date of June 23, 2008.
The general shareholders' meeting approved the re-election of the current
members of the board of directors, with the exception of Bruno Marchettini
who did not stand for re-election, and the election of Alberto Valsecchi,
our former Chief Operating Officer, to serve as members of the board of
directors until the next annual shareholders' meeting, which will be held
in June 2009.
The board of directors subsequently confirmed Amadeo Vázquez y Vázquez,
Jaime Serra Puche and Roberto Monti as members of the Company's audit
committee, with Mr. Vázquez y Vázquez to continue as chairman. All three
members of the audit committee are independent directors.
The company re-appointed PricewaterhouseCoopers as its independent auditors
for the 2008 fiscal year.
Tenaris is a leading global supplier of steel tubes and related services
for the world's energy industry and certain other industrial applications.