The Board of Directors is to propose to the General Shareholders' Meeting for the dividend to be paid in a single payment

The Board of Directors of Acerinox is to propose to the General Shareholders' Meeting for the dividend to be paid in a single payment

The Board of Directors, in yesterday's meeting, agreed to propose to the General Shareholders' Meeting a single dividend payment, which will be distributed in July 2017, as is the current practice.

 

Acerinox approves Excellence Plan V and a recurrent saving of 50 million euros is expected

The Board of Directors also approved the fifth Excellence Plan of the company, which includes changes in several chapters. This new Plan, which will be carried out in 2017 and 2018, is comprised of five blocks (Operations, Working Capital, Personnel, Business and Supply) and a recurrent saving of 50 million euros is expected.

The excellence plans are tools for improving manufacturing costs, essentially variables and they are a result of a previous benchmarking process. They involve incorporating the best practices available to each of the activities analysed within the different units of the Group. The accumulated savings are consolidated and constitute the basis of the subsequent plan.

 

New Domanial Director

Mr. Tomás Hevia Armengol was named Domanial Director representing Corporación Financiera Alba S.A. replacing Javier Fernández Alonso.

Mr. Hevia holds a double Bachelor's Degree in Business Administration and Management and Law (ICADE E-3) from the Universidad Pontificia de Comillas in Madrid and also has an MBA from the IESE Business School of the University of Navarra.

Mr. Tomás Hevia is currently a member of the Investment Department and the Management Committee of Corporación Financiera Alba S.A. Previously, he developed his professional career in the Mergers and Acquisitions and Equity Capital Markets Departments of the Royal Bank of Scotland PLC and ABN AMRO NL in Madrid and London.

As well as being a member of the Board of Directors of Acerinox, he is also a member of the Board of Directors of Clínica Baviera S.A. and previously of ACS Servicios and Concesiones S.A., Dragados S.A. and Antevenio S.A.