CSN board approves new share buybacks of up to $73 mln

martes 30 de diciembre de 2014 17:12 GYT

RIO DE JANEIRO Dec 30 (Reuters) - Brazilian steelmaker CSN said on Tuesday its board approved a new phase of share buybacks until the end of March, under which nearly 35 million shares could be purchased.

The company, formally known as Companhia Siderúrgica Nacional, said it would buy back up to 34,611,155 shares, valued at about 193 million reais ($73 million) based on the stock's current price.

CSN in a separate statement said it would pay 275 million reais in dividends, or 0.202358522 real per share.

($1 = 2.657 reais) (Reporting by Stephen Eisenhammer)