AK Steel Holding Corp. (AKS) announced that its board has authorized the company to make a $75 million contribution to its pension trust fund. The contribution will be made during the first quarter and will meet a significant portion of the company's 2010 funding requirements.
The contribution will bring AK Steel's total pension contributions since 2005 to more than $1.1 billion.
The company also announced that its board has declared a quarterly cash dividend of $0.05 per share of common stock, payable on March 10, 2010 to shareholders of record on February 12, 2010.
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