Warrior Met Coal Declares Special Cash Dividend
April 03 2018 - 4:01PM
Business Wire
Warrior Met Coal, Inc. (“Warrior”) (NYSE: HCC) today announced
that its board of directors has declared a special cash dividend
(the “Special Dividend”) of approximately $6.53 per share of
Warrior’s common stock, par value $0.01 per share. The Special
Dividend, totaling an aggregate payment of $350 million, will be
paid on April 20, 2018, to stockholders of record as of the close
of business on April 13, 2018. The Special Dividend will be funded
through cash on hand, together with the net proceeds of Warrior’s
previously announced offering of $125 million 8.00% Senior Secured
Notes due 2024.
Warrior is a large-scale, low-cost U.S. based producer and
exporter of premium hard coking coal (“HCC”) operating highly
efficient longwall operations in its underground mines located in
Alabama. The HCC that Warrior produces from the Blue Creek coal
seam contains very low sulfur and has strong coking properties, and
is of a similar quality to coal referred to as the premium HCC
produced in Australia. The premium nature of Warrior’s HCC makes it
ideally suited as a base feed coal for steel makers and results in
price realization near the HCC industry average index price.
Warrior sells all of its met coal production to steel producers in
Europe, South America and Asia. For more information about Warrior
Met Coal, please visit www.warriormetcoal.com.
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Warrior Met Coal, Inc.Analysts and Investors, contact:Dale W.
Boyles, 205-554-6129orNews Media, contact:William Stanhouse,
205-554-6131
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