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rayrohn

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rayrohn

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Wednesday, 10/11/2006 1:34:53 PM

Wednesday, October 11, 2006 1:34:53 PM

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Chaparral Steel Starts Quarterly Dividend, Approves Stock Buyback of Up to $100 Million


MIDLOTHIAN, Texas (AP) -- Chaparral Steel Co., maker of structural steel beams and bar products, on Wednesday said it will begin paying a quarterly dividend and will repurchase up to $100 million of its stock.
The company said it will pay a dividend of 10 cent per share on Nov. 15 to shareholders of record Nov. 1.

The share repurchase will happen on the open market and through private deals. Chaparral Steel has about 46 million shares outstanding.

Shares rose 10 cents to $38.90 in afternoon trading on the Nasdaq.


Ray

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