Schnitzer Board Declares Quarterly Dividend
PORTLAND, Ore.--(BUSINESS WIRE)--Nov. 14, 2011--
The Board of Directors of Schnitzer Steel Industries, Inc. (Nasdaq:
SCHN) declared a cash dividend of $0.017 per common share, payable on
December 15, 2011, to shareholders of record on December 1, 2011.
Schnitzer has paid a dividend every quarter since going public in
November 1993.
About Schnitzer Steel Industries, Inc.
Schnitzer Steel Industries, Inc. is one of the largest manufacturers and
exporters of recycled ferrous metal products in the United States with
56 operating facilities located in 14 states, Puerto Rico and Western
Canada. The business has seven deep water export facilities located on
both the East and West Coasts and in Hawaii and Puerto Rico. The
Company's integrated operating platform also includes its auto parts and
steel manufacturing businesses. The Company's auto parts business sells
used auto parts through its 50 self-service facilities located in 14
states and Western Canada. With an effective annual production capacity
of approximately 800,000 tons, the Company's steel manufacturing
business produces finished steel products, including rebar, wire rod and
other specialty products. The Company commenced its 106th year of
operations in fiscal 2012. Schnitzer was named Scrap Company of the Year
by American Metals Market's 2011 Awards for Steel Excellence. The awards
recognize advancements rooted in pioneering and implementing business
improvements that have delivered real change to the steel industry.
Source: Schnitzer Steel Industries, Inc.
Schnitzer Steel Industries, Inc.
Investor Relations:
Alexandra
Deignan, 646-278-9711
or
Press Relations:
Chip Terhune,
503-367-2568
Website: www.schnitzersteel.com
Email:
ir@schn.com