SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 15, 1996
AK STEEL HOLDING CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE File No. 1-13696 31-1401455
(State or other (Commission file number) (IRS employer
jurisdiction of identification
incorporation) number)
703 Curtis Street, Middletown, Ohio 45043
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code:(513)425-5000
Not Applicable
(Former name or former address, if changed since last report)
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Item 5. Other Events
At the Annual Meeting of Stockholders of AK Steel Holding
Corporation (the "Company") held on May 15, 1996, the ten nominees
listed in the Proxy Statement, dated April 8, 1996, were elected to
serve as directors of the Company until the 1997 Annual Meeting of
Stockholders and until their respective successors are elected and
qualify. The elected directors are Allen Born, John A. Georges,
Thomas C. Graham, Dr. Bonnie Guiton Hill, Robert H. Jenkins,
Lawrence A. Leser, Robert E. Northam, Cyrus Tang, James A. Thomson,
and Richard M. Wardrop, Jr. At such meeting, the shareholders also
approved certain amendments to the Company's 1994 Stock Incentive
Plan.
Also at a Board of Directors meeting held May 15, 1996,
the Company announced a dividend of $0.538125 per share on each
outstanding preferred share of the Company's 7% Convertible
Preferred Stock, Stock Appreciation Income Linked Securities
payable on July 15, 1996 to shareholders of record on June 14,
1996, and the Company was authorized to repurchase from time to
time up to $100 million of its outstanding equity securities. A
press release dated May 15, 1996 announcing these actions is
attached.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
(a) Financial Statements of business acquired:
Not applicable.
(b) Pro Forma financial information:
Not applicable.
(c) Exhibit:
(99) Press Release, dated May 15, 1996.
<PAGE>
Signatures
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 thereunto duly authorized.
AK STEEL HOLDING CORPORATION
/s/_____________________________
Randall F. Preheim
Vice President, General Counsel
and Secretary
Dated: May 15, 1996
<PAGE>
AK STEEL HOLDING CORPORATION
FORM 8-K
CURRENT REPORT
Exhibit Index
Exhibit No. Description Page
(99) Press Release, dated May 15, 1996 5
(99) Press Release
AK Steel Announces Additional $100 Million Stock Repurchase Plan
MIDDLETOWN, OH, May 15, 1996 -- AK Steel (NYSE: AKS) said
today its board of directors approved a second plan authorizing the company to
repurchase from time to time up to $100 million of its outstanding equity
securities. The equity securities consist of approximately 26.6 million
shares of common stock and approximately 5.2 million shares of 7.00%
mandatorily convertible preferred stock.
The company said it recently completed the repurchase of $100 million in
its own equity securities its board authorized last October. Under the initial
program, AK Steel repurchased approximately 2.3 million shares of its
mandatorily convertible preferred stock and approximately 0.6 million shares of
its common stock.
"Completion of the initial repurchase program and our board's action today
reflects AK Steel's ongoing commitment to enhancing shareholder value," said
Thomas C. Graham, chairman. "Coupled with a significant appreciation in the
value of AK Steel's common stock since our initial public offering just two
years ago, we're gratified to announce this new plan."
The new share repurchase program announcement was made following the
company's annual shareholder's meeting in New York. AK Steel's board also
declared a regular quarterly dividend of $0.538125 per share on its mandatorily
convertible preferred stock (Stock Appreciation Income Linked Securities, or
"SAILS"), payable on July 15, 1996 to shareholders of record June 14, 1996.
AK Steel produces low-carbon flat-rolled steel for automotive, appliance,
construction and other markets. The company employs about 5,700 people in
plants and offices in Middletown and Ashland, Kentucky.
