United States Steel Corporation Declares Increased Common Stock Dividend
United States Steel Corporation (NYSE: X) announced today that the Board of Directors declared a dividend of 8 cents per share on U. S. Steel Common Stock, an increase of 3 cents per share. The dividend is payable March 10, 2005, to stockholders of record at the close of business February 16, 2005. The directors also declared a dividend of $0.875 per share on U. S. Steel's 7% Series B Mandatory Convertible Preferred Shares. This dividend is payable March 15, 2005, to stockholders of record at the close of business March 1, 2005.
Commenting on the dividend increase, U. S. Steel President and CEO, John P. Surma said, "The substantial increase in our quarterly dividend rate reflects our confidence in our financial outlook and our commitment to enhancing shareholder value. In taking this dividend action, along with our actions to further improve our capital structure in the fourth quarter, we also balanced other important considerations including higher capital spending requirements for our expanded asset base, maintaining financial flexibility to pursue strategic growth opportunities and strengthening our financial position."
For more information about U. S. Steel, visit http://www.ussteel.com/ .
SOURCE: United States Steel Corporation
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Web site: http://www.ussteel.com/
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