Sault Ste Marie Ontario based Canadian steel maker Algoma Steel Group has announced fiscal 2022 returned CAD 150.7 million in total profit share payouts for eligible employees. With the second installment scheduled for release on 24 June, fiscal 2022’s profit share represents the highest payments per employee in the Company’s history. All figures are in Canadian dollars unless otherwise stated. Algoma’s Chief Executive Officer Mr Michael Garcia said “This announcement comes on the back of the Company’s impressive fourth-quarter results. This past year, Algoma saw record safety performance, revenues, and cash flows with much of that success attributable to our employees’ hard work and dedication. Together we are demonstrating that bold transformation, the continued pursuit of excellence and success go hand in hand at Algoma.”This cash infusion is in addition to approximately CAD 400 million in annual payroll and pension benefits, and when combined with local investments in goods and services accruing CAD 63 million to date derived from the construction of our electric arc furnace facility and our plate mill modernization, delivers meaningful positive returns for our community.In appreciation for the record year, Algoma Steel will host employees and their families on Saturday, June 25th for a Family Day celebration, featuring Steelworks tours, children’s activities, live entertainment and a BBQ lunch.