LUXEMBOURG, Could 03, 2021 (Globe NEWSWIRE) — Tenaris S.A. (NYSE and Mexico: TS and MTA Italy: Ten) declared that its yearly standard conference of shareholders held on May 3, 2021, in accordance with applicable regulation on the keeping of corporate meetings adopted in gentle of the COVID-19 pandemic, authorized all resolutions on its agenda.
Among other resolutions adopted at the annual general conference, the shareholders authorized the consolidated fiscal statements as of and for the 12 months ended December 31, 2020, and the once-a-year accounts as at December 31, 2020, and acknowledged the similar administration and unbiased auditors’ stories and certifications.
The annual basic meeting also approved an once-a-year dividend of US$.21 for each share (or US$.42 per ADR), which signifies an combination sum of around US$248 million, and which involves the interim dividend of $.07 per share ($.14 for every ADR) or around $83 million, paid out in November 2020. Tenaris will fork out the harmony of the yearly dividend in the amount of US$.14 per share (or US$.28 for each ADR), in U.S. pounds on May perhaps 26, 2021, with an ex-dividend date of May 24, 2021.
The yearly typical meeting fixed to lower the range of administrators to eleven and accredited the re-election of the present users of the board of administrators (besides for Mr. Vázquez y Vázquez), Mr. Simon Ayat, Mr. Roberto Bonatti, Mr. Carlos Condorelli, Mr. Germán Curá, Mr. Roberto Monti, Mr. Gianfelice Mario Rocca, Mr. Paolo Rocca, Mr. Jaime Serra Puche, Mr. Yves Speeckaert, Ms. Monica Tiuba and Mr. Guillermo Vogel. All board users will hold place of work till the conference that will be convened to come to a decision on the 2021 once-a-year accounts.
The board of administrators subsequently re-elected Mr. Roberto Monti, Mr. Jaime Serra Puche and Ms. Monica Tiuba as audit committee members, with Ms. Tiuba to go on as the committee’s chairperson. All members of the audit committee qualify as unbiased administrators for needs of the U.S. Securities Trade Act Rule 10A-3(b)(1) and beneath the Company’s articles or blog posts of affiliation.
In addition, the annual basic meeting accepted the payment payable to the members of the Board of Directors for the yr ending December 31, 2021 and the Payment Report for the calendar year ended December 31, 2020 and appointed PricewaterhouseCoopers S.C., Réviseurs d’entreprises agréé, as Tenaris’s external auditors for the fiscal calendar year ending December 31, 2021.
Copies of the minutes of the yearly standard conference can be downloaded from Tenaris’s internet site at ir.tenaris.com/corporate-governance/once-a-year-general-assembly.
Tenaris is a main worldwide supplier of steel tubes and associated solutions for the world’s electricity industry and selected other industrial applications.