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Alcoa to transfer Canadian pension obligations, take $0.68/share charge [Seeking Alpha]

ALCOA (AA)  More Company Research Source: Seeking Alpha
Last alcoa earnings: 7/18 04:10 pm Check Earnings Report
US:NYSE Investor Relations: investors.alcoa.com
PDF Alcoa to transfer Canadian pension obligations, take $0.68/share chargeAlcoa (NYSE:AA) says it signed contracts totransfer $555M in Canadian pension obligations and assets to three insurers, in a move tostrengthen its balance sheet by lowering its risk to volatility from its pension plan obligations.Alcoa expects to record an after-tax settlement charge of $128M, or $0.68/share, during Q2 due to the annuity transactions.Alcoa says it will contribute ~$95M this month to facilitate the annuity transaction and maintain the funding level of the remaining plan obligations, part of the $300M in incremental contributions it previously said it would make in 2018 to U.S. and Canadian defined benefit pension plans.Click to subscribe to real-time analytics on AANow read:Trump's Tariff Plan: Overblown Consequences For Boeing? » [Read more]

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