Schnitzer Steel Board Declares Quarterly Dividend
PORTLAND, Ore.--(BUSINESS WIRE)--July 29, 2004--The Board of
Directors of Schnitzer Steel Industries, Inc. (Nasdaq:SCHN)
("Schnitzer") declared a quarterly dividend of $0.017 per common
share, payable Aug. 26, 2004, to shareholders of record on Aug. 12,
2004. Schnitzer has paid a dividend every quarter since going public
in November 1993.
Schnitzer Steel Industries, Inc. is one of the nation's largest
recyclers of ferrous metals, a manufacturer of finished steel products
and a leading self-service auto parts and dismantling company. The
Company, with its joint venture partners, currently processes
approximately 4.9 million tons of recycled ferrous metals per year. In
addition, the Company's steel mill has an annual production capacity
of approximately 700,000 tons of finished steel products. The Company
and its joint venture partners operate primarily along the West Coast
and Northeastern seaboard of the United States.
Schnitzer's common stock is traded on the NASDAQ Stock Market
System under the symbol "SCHN."
For more information about Schnitzer Steel Industries, Inc. go to
www.schnitzersteel.com.
CONTACT: Schnitzer Steel Industries, Inc.
Tom Zelenka, 503-323-2821 (Public Affairs)
Barry Rosen, 503-323-2720 (Investor Relations)
SOURCE: Schnitzer Steel Industries, Inc.