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Algoma Steel suspends dividend as tariffs disrupt industry
Algoma Steel Group Inc. has suspended its dividend as it reported a net loss in the last quarter and struggles with the ongoing impacts of U.S. metal tariffs. The Sault Ste. Marie-based steel producer says it suspended the dividend as a prudent way to preserve financial flexibility during ongoing macroeconomic uncertainty. The move came as the company reported a net loss of $110.6 million during the second quarter compared with net income of $6.1 million a year earlier. Algoma Steel says it paid $64.1 million in tariffs during the quarter, compared with none during the same period in 2024. Shipments to the U.S. ... (full story)
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- Jul 30, 2025 7:59pm Posted byFundamental Analysis240
