The Board of Directors of Acerinox will propose to the General Shareholders Meeting an increase of the dividend and approves a Share Buy-Back Programme

The proposal increases 11% the dividend from €0.45 euro to €0.50 euro per share. Acerinox will propose to the General Shareholders Meeting the reduction of up to 2% of the Company’s Capital

The Acerinox, S.A. Board of Directors which was held yesterday has decided to propose to the Ordinary Shareholders’ Meeting, a dividend increase of 11% from €0.45 to €0.50 per share.

With the same aim to increase the earning per share, the Board of Directors will propose to reduce the number of shares issued during the 4 year period (2013-2016) when the dividends were paid by scrip dividend. Therefore, the Board also approved a first Share Buy-Back Programme for its subsequent amortization.

The number of Shares to be bought in this first Programme will be up to 2% of the Company’s Share Capital, and will allocate to this purpose up to 66,000,000 €.