Reliance Steel & Aluminum amends loan to increase shareholder dividend allowance

By Sara Rosenberg

New York, Dec. 20 - Reliance Steel & Aluminum Co. amended its credit facility to increase the maximum of allowable dividends to $3 million from $2.5 million, according to an 8-K filed with the Securities and Exchange Commission Monday.

The amendment was approved by lenders on Thursday but has an effective date of July 1, the filing said.

Bank of America is the administrative agent on the loan.

Reliance Steel is a Los Angeles-based metals service center company.

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