8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported): June 27, 2007

KAISER ALUMINUM CORPORATION

(Exact Name of Registrant as Specified in its Charter)

Delaware	0-52105	94-3030279
(State or Other Jurisdiction	(Commission	(I.R.S. Employer
of Incorporation)	File Number)	Identification No.)

27422 Portola Parkway, Suite 350
Foothill Ranch, California	92610-2831
(Address of Principal Executive Offices)	(Zip Code)

(949) 614-1740
(Registrant’s telephone number, including area code)

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01. Other Events.

     On June 27, 2007, Kaiser Aluminum Corporation announced that its Board of Directors declared an initial quarterly cash dividend on its common stock of $0.18 per share. The dividend will be payable on August 17, 2007 to stockholders of record as of the close of business on July 27, 2007. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit
Number	Description
99.1	Press Release dated June 27, 2007.

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

KAISER ALUMINUM CORPORATION (Registrant)
By:	/s/ John M. Donnan
	John M. Donnan Vice President, Secretary and General Counsel

Date: June 29, 2007

EX-99.1

Exhibit 99.1

Kaiser Aluminum Announces Initial Quarterly Dividend Payment

FOOTHILL RANCH, Calif. — June 27, 2007 — Kaiser Aluminum (NASDAQ:KALU) today announced that its Board of Directors has declared an initial quarterly cash dividend payment of $0.18 per share on the company’s outstanding common stock. This initial dividend will be payable on August 17, 2007 to shareholders of record at the close of business on July 27, 2007.

“We are pleased that our shareholders will be able to participate more directly in the company’s profits through this cash dividend,” said Jack A. Hockema, chairman, president and CEO of Kaiser Aluminum. “With confidence in our financial strength, Kaiser’s board is comfortable introducing a dividend while continuing to pursue significant investments in initiatives for the long-term growth of the company. Additionally, we believe a dividend will allow our stock to be attractive to a broader range of investors.”

Kaiser Aluminum is a leading producer of fabricated aluminum products for aerospace and high-strength, general engineering, and automotive and custom industrial applications. The company has more than 2,000 employees and 11 plants in North America and produces more than 500 million pounds annually of value-added sheet, plate, extrusions, forgings, rod, bar and tube. For more information, please visit www.kaiseraluminum.com.

F-107x

Certain statements in this release relate to future events and expectations and, as a result, constitute forward-looking statements involving known and unknown risks and uncertainties that may cause actual results, performance or achievements of the company to be different from those expressed or implied in the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include: (a) the effectiveness of management’s strategies and decisions; (b) adverse changes in economic or aluminum industry conditions generally; (c) adverse changes in the markets served by the company, including the aerospace, defense, general engineering, automotive, distribution and other markets; (d) the company’s inability to achieve the level of cash generation, margin improvements, cost savings, or earnings or revenue growth anticipated by management; (e) the impact of the company’s future earnings, financial condition, capital requirements and other factors on its ability to pay future dividends and any decision by the company’s board of directors in that regard; and (f) the other risk factors summarized in the company’s Form 10-K for the year ended December 31, 2006 and other reports filed with the Securities and Exchange Commission.

Investor Relations Contacts:
Joe Bellino

Dan Rinkenberger
Kaiser Aluminum
(949) 614-1740

Public Relations Contact :
Geoff Mordock
Fleishman-Hillard
(213) 489-8271

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