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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8 - K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): February 10, 1998
NATIONAL STEEL CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction incorporation)
1-983 25-0687210
(Commission File Number) (IRS Employer Identification No.)
4100 Edison Lakes Parkway, Mishawaka, IN 46545-3440
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 219-273-7000
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ITEM 5. OTHER EVENTS
National Steel Corporation issued a press release on February 10, 1998
announcing that its Board of Directors has authorized a quarterly dividend
payment of seven cents per common share, payable March 11, 1998 to shareholders
of record on February 25, 1998. A copy of this press release is attached hereto
as Exhibit 99.1.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibit 99.1 Press release dated February 10, 1998.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NATIONAL STEEL CORPORATION
Date: February 18, 1998 By: /s/ John A. Maczuzak
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John A. Maczuzak
President and Chief Operating Officer
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Exhibit 99.1
News Release
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Media Contact: Leon L. Judd
(219) 273-7631
Analyst/Investor Contact: Joseph A. Rainis
(219) 273-7158
NATIONAL STEEL ANNOUNCES QUARTERLY DIVIDEND PAYMENT
Mishawaka, IN, February 10, 1998--National Steel Corporation (NYSE:NS) today
announced that its Board of Directors has authorized a quarterly dividend
payment of seven cents per common share, payable on March 11, 1998 to
shareholders of record on February 25, 1998.
Osamu Sawaragi, chairman and chief executive officer, said that the dividend,
the first paid on National Steel common stock since its initial public offering
in early 1993, marks a significant milestone for National Steel. "This dividend
reflects the Company's improved financial strength and management's confidence
in the future success of the Company. It is also a tangible sign of our
commitment to enhancing shareholder value."
National Steel made significant improvement in 1997, including record profits,
sales and shipments. In addition, the Company strengthened its balance sheet by
selling non-core assets, retiring debt and redeeming all of its outstanding
preferred stock.
All statements contained in this press release, other than historical
information, are forward-looking statements. A variety of factors could cause
business conditions and the Company's actual results and experience to differ
materially from those expected by the Company or expressed in the Company's
forward-looking statements. Additional information concerning these factors is
available in the Company's most recent report on Form 10-Q for the quarter ended
September 30, 1997.
Headquartered in Mishawaka, Indiana, National is the nation's fourth largest
integrated steel company, with annual shipments of approximately six million
tons of flat rolled products. National employs approximately 9,400 people. Visit
National Steel's website at: www.nationalsteel.com.
