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PITTSBURGH--March 10, 2000--
The Board of Directors of Alcoa today declared a quarterly common stock
dividend of 25 cents per common share. The dividend is payable May 25,
2000 to shareholders of record at the close of business on May 5, 2000.
The directors also voted a regular dividend of 93.75 cents per share on
Alcoa's $3.75 cumulative preferred stock, payable July 1, 2000 to
shareholders of record on June 9, 2000.
Share Repurchase Authorized
In addition, the Board authorized the repurchase of 20 million shares of
Alcoa common stock. This action replaces a similar authorization
approved by the Board in July 1999. About 12 million shares were
repurchased under the prior authorization. Alcoa has approximately 364
million shares outstanding.
The company will from time to time buy back shares of its outstanding
common stock with open-market purchases. The stock will be used for
employee benefit plans and other corporate purposes.
For additional information, please contact:
Joyce A. Saltzman