The Cavotec Board of Directors has decided in its meeting today to increase the dividend payout ratio of between 25% and 40% of the Group’s net profit, depending on Cavotec’s asset and profit positions as well as its financial requirements. Up to now the dividend payout ratio was at around 25%.
“Cavotec is a long-term investment case, a solid company with good growth prospects,” said Chairman Stefan Widegren. “This increase of dividend payout ratio is in line with our targets presented at the time of our listing on the Nasdaq OMX in 2011. As the company continues to develop we want our shareholders to benefit from this growth,” Widegren said.
The Cavotec Board of Directors has proposed a dividend for 2013 of 0.05 CHF per share, or a total of approximately EUR 2,921 thousands at today’s prevailing exchange rates, unchanged compared to the prior year. If approved by shareholders at the company’s Ordinary General Meeting (OGM) on April 23, 2014 the dividend payout would take place early July 2014.
Since its initial public offering in 2007 on the New Zealand Stock Exchange and the company’s re-listing to the Nasdaq OMX in 2011 Cavotec has always paid a dividend and has continually raised it or at least kept it on prior-year level.
ENDS
For further details on this press release, please contact Michael Scheepers, Director Investor Relations & Corporate Communications, at michael.scheepers@cavotec.com.
