U.S. Markets close in 4 hrs 1 min

Shareholders Approve All Resolutions on the Agenda of Tenaris's Annual General Meeting

LUXEMBOURG--(Marketwired - May 7, 2014) - Tenaris S.A. ( NYSE : TS ) ( BAE : TS ) ( BMV : TS ) ( MILAN : TEN ) announced that its annual general meeting of shareholders approved today all resolutions on its agenda.

Among other resolutions adopted at the meeting, the shareholders approved the consolidated financial statements as of and for the year ended December 31, 2013, and the annual accounts as at December 31, 2013, and acknowledged the related management and independent auditors' reports and certifications.

The meeting also approved the payment of a dividend for the year ended December 31, 2013, of US$0.43 per share (or US$0.86 per ADS), or approximately US$508 million, which includes the interim dividend of US$0.13 per share (or US$0.26 per ADS) paid in November 2013. Tenaris will pay the balance of the annual dividend in the amount of US$0.30 per share (US$0.60 per ADS) on May 22, 2014, with an ex-dividend date of May 19, 2014.

The annual general meeting of shareholders approved the re-election of the current members of the board of directors, each to hold office until the meeting that will be convened to decide on the 2014 accounts.

The board of directors subsequently confirmed and re-appointed Amadeo Vázquez y Vázquez, Jaime Serra Puche and Roberto Monti as members of Tenaris's audit committee, with Mr. Vázquez y Vázquez to continue as chairman. All three members of the audit committee qualify as independent directors under the articles and applicable law.

The meeting appointed PricewaterhouseCoopers, Société coopérative, Cabinet de révision agréé, as Tenaris's independent auditors for the fiscal year ending December 31, 2014.

A copy of the minutes of the ordinary meeting can be downloaded from Tenaris's website at www.tenaris.com/investors.

Tenaris is a leading global supplier of steel tubes and related services for the world's energy industry and certain other industrial applications.