WASHINGTON (dpa-AFX) - United States Steel Corp. (X) announced, at current market conditions, which include spot prices, import volumes and supply chain inventory levels, the company would expect 2016 adjusted EBITDA to be near breakeven. The company said, as overall market conditions improve during 2016, it would expect adjusted EBITDA to improve consistent with the pace and magnitude of any improvement in market conditions.
U. S. Steel President and CEO Mario Longhi said, 'We are facing significant headwinds and uncertainty in many of the markets we serve but remain focused on continuing to improve our cost structure, developing differentiated solutions for our customers and creating more reliable and agile operating capabilities. The substantive changes and improvements we are making continue to increase our earnings power.'
United States Steel also announced its Board has declared a dividend of five cents per share on U. S. Steel Common Stock. The dividend is payable March 10, 2016, to stockholders of record at the close of business February 11, 2016.
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