United States Steel Corp.’s Board of Directors has approved the repurchase of up to eight million shares of United States Steel Corp. common stock.

It is expected that the purchases will be made from time to time in open-market or privately negotiated transactions. The company will determine the timing of such purchases based on such factors as the market price of United States Steel Corp. common stock; the availability and pursuit of strategic initiatives (including investment and acquisition opportunities); operating cash flow and internal capital requirements; and general economic conditions in the United States and Europe.

Commenting on the repurchase program, U. S. Steel President and CEO John P. Surma said, "This action, along with the doubling of our dividend over the course of the last two quarters, reflects our commitment to our shareholders and our long-term optimism for our company."

The company also announced that, in connection with this repurchase program, it has suspended the provisions of its dividend reinvestment plan that allow non-shareholders to acquire United States Steel Corp. common stock through that plan.