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Derek Rose

Bluescope Steel entices shareholders with $438m payday

BlueScope Bluescope Steel SGH Steel Dynamics

A special dividend payment is coming for shareholders in Australia's biggest steelmaker. (Dean Lewins/AAP PHOTOS)

Australia's largest steelmaker will give hundreds of million of dollars to shareholders via a special dividend, a move it says is unrelated to a rejected $13 billion takeover.

BlueScope Steel investors will receive $438 million under a special payout of $1 per share after its board rejected the offer from the Stokes family-controlled SGH and its American bid partner Steel Dynamics.

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