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|Allegheny Technologies Suspends Quarterly Dividend|
“We expect ATI’s financial performance to improve significantly in 2017
as a result of strong profitable growth in our High Performance
Materials & Components segment, a return to modest profitability in our
Flat Rolled Products segment, and the aggressive cost reduction actions
we have taken since late last year,” said
“As earnings improve in 2017 and beyond, the resulting annual free cash flow, after necessary capital expenditures, will be used primarily to reduce debt, improve the funded position of the Company’s defined benefit pension plan, and improve liquidity. We are focused on creating long-term shareholder value by returning ATI to sustainable profitability, strengthening our balance sheet, and restoring and maintaining financial flexibility and strong liquidity.
“In support of these objectives, ATI’s Board of Directors has decided to
suspend the quarterly dividend beginning in the fourth quarter 2016.
Suspending the quarterly dividend, which saves nearly
“As previously reported, in 2017 we plan to make a
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Allegheny Technologies Incorporated