Billionaire Steel Clan Looking at Asset Sales, Dividend Cuts (1)

Brazilian steelmaker CSN is pulling the reins on its aggressive growth strategy and generous investor payouts to cope with a hefty debt load, high interest rates and stiff competition from Chinese rivals.

Cia. Siderurgica Nacional SAChief Executive Officer Benjamin Steinbruchis looking at curbing dividends, selling stakes in assets, postponing some investments, and other measures including tapping Brazilian development bank BNDES. The 71-year-old tycoon outlined his emerging new strategy during a presentation to analysts and investors late Wednesday.

“We’ve been very aggressive so far with dividends and with growth,” Steinbruch said. “From now on, we’re going to be more ...