Company: ZEUS
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001437749-25-032420
Chunk: 44

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 44
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5 totaled $417.8 million, a $30.2 million decrease from December 31, 2024. The decrease was primarily attributable to a $62.6 million increase in accounts payable and outstanding checks and a $6.7 million decrease in inventory, partially offset by a $43.5 million increase in accounts receivable and a $1.9 million increase in prepaid expenses and other. 

Investing Activities

Net cash used for investing activities totaled $24.9 million during the nine months ended September 30, 2025 and $22.3 million during the nine months ended September 30, 2024 and consisted of capital expenditures attributable to additional processing and automation equipment at our existing facilities.

Financing Activities

During the first nine months of 2025, $39.0 million of cash was used for financing activities, which primarily consisted of $31.5 million of net repayments under our ABL Credit Facility, $5.4 million of dividends paid, $1.3 million of credit facility fees and expenses related to the amendment of the ABL Credit Facility and $0.8 million of principal payments under finance lease obligations. During the first nine months ended of 2024, $1.0 million was generated from financing activities, which primarily consisted of $7.1  million of net borrowings under our ABL Credit Facility partially offset by $5.0 million of dividends paid, $0.9 million of principal payments under finance lease obligations and $0.1 million of credit facility fees and expenses related to the amendment of the ABL Credit Facility.

Dividends paid were $5.4 million and $5.0 million for the nine months ended September 30, 2025 and September 30, 2024, respectively.  In October 2025, our Board of Directors approved a regular quarterly dividend of $0.16 per share, which will be paid on December 15, 2025 to shareholders of record as of December 1, 2025. Regular dividend distributions in the future are subject to the availability of cash, the $15.0 million annual limitation on cash dividends and common stock repurchases under our ABL Credit Facility and continuing determination by our Board of Directors that the payment of dividends remains in the best interest of our