SAO PAULO, Brazil, Dec 21 /PRNewswire-FirstCall/ -- CSN's Board of
Directors approved the Executive Board's proposal to submit the following
matters to a General Shareholders Meeting:
1) Dividends: Payment of R$665,081,000.00 (six hundred and sixty-five
million and eighty-one thousand Reais), equivalent to R$2.593011 per share
on this date, as an advance on the minimum mandatory dividend payment.
2) Interest on Equity: Payment, also as an advance on the minimum
mandatory dividend payment, of R$134,919,000.00 (one hundred and thirty-
four million and nine hundred and nineteen thousand Reais) as Interest on
Equity. Shareholders registered as such on this date will receive
R$0.447118 per share, net of 15% withholding tax. The dividends and
interest on shareholders' equity will be paid, without monetary
restatement, as of January 8, 2008. CSN's shares will be traded ex-
dividends as of December 26, 2007, inclusive. In order to maximize
shareholder value through efficient capital structure management, the
Board of Directors will also present the General Shareholders' Meeting
with the following proposals:
3) Cancellation of shares held in treasury -- the Board will propose the
cancellation of 4,000,000 shares currently held in treasury.
4) Acquisition of CSN shares -- the Board will also propose the
acquisition of up to 4,000,000 shares issued by CSN, to be held in
treasury for subsequent sale or cancellation, via transactions on the Sao
Paulo Stock Exchange (BOVESPA). For this purpose, CSN will retain the
services of the following brokers: Itau Corretora de Valores S.A. and
Pactual DTVM S.A. The transactions shall be initiated on the day following
approval of the cancellation of the shares by the General Shareholders
Meeting and shall continue until February 27, 2008.
The acquisition price of the shares shall not be higher than their
respective Stock Market price.
5) 1:3 Stock split -- The Board will also propose a stock split designed
to improve the liquidity of the Company's shares on the national and
international markets. As a result, each CSN share will be represented by
3 shares. The ratio of 1 CSN underlying share for 1 ADR (American
Depositary Receipt) in the USA will be maintained.
For further information, please contact CSN - IR:
(55 11) 3049-7591