Recordati: shareholders approve the 2008 accounts. Dividend € 0,25 per share (+16.3%), Recordati
Release Date: 2009-04-07
Annual Shareholders’ Meeting
• Shareholders approve 2008 results: Consolidated revenue € 689.6 million (+9.7%), operating income (EBIT) € 144.7 million (+ 10.1%), net income € 100.4 million (+ 18.3%).
• Dividend to be paid € 0.25 per share, an increase of 16.3% over dividend paid last year. Overall dividend € 49.3 million.
• Authorization to buy-back Recordati shares renewed.
Milan, 7 April 2009 – Today the Annual Meeting of Recordati Shareholders was held.
Annual Shareholders’ Meeting
Recordati’s Annual Shareholders’ Meeting approved the company’s 2008 financial accounts which were prepared according to IAS/IFRS. In addition, the group’s consolidated statements, which were also prepared according to IAS/IFRS, were presented. The tables attached contain a summary of the 2008 financial statements. As previously announced on 3 March 2009 revenues are € 689.6 million (+9.7%), operating income (EBIT) is € 144.7 million (+ 10.1%), and net income is € 100.4 million (+ 18.3%). International sales account for 70.2% of total sales.
As proposed by the Board of Directors, the shareholders approved a dividend of € 0.25 per share (€ 0.215 the preceding year) to be paid to the shares outstanding as from 23 April 2009 (trading ex-dividend as from 20 April 2009), excluding those shares in treasury stock. The overall amount of the dividend to be paid is € 49.3 million compared to € 42.2 million paid the preceding year, an increase of 16.7%.
Furthermore, the Shareholders’ Meeting renewed the buy-back authorization granted by the Shareholders on 11 April 2008 for a period ending with the approval of the 2009 accounts. This authorization is granted for the following purposes: use shares for equity acquisitions or as consideration for strategic agreements; allow the company to invest in its own shares; and service current and future stock option plans with existing rather than new shares. The company is allowed to purchase up to 20,000,000 Recordati existing ordinary (common) shares, which includes those shares held in Treasury stock at any given time, for a maximum cash outlay of € 120,000,000. The purchase price must be at least equal to the shares’ nominal value (€ 0.125) and must not exceed the average official Stock Exchange price recorded over the 5 trading days prior to the transaction, plus 5%. Possible purchases must comply with the Issuers’ Rules and Regulations. No shares were purchased under the authorization granted by the Shareholders’ Meeting of 11 April 2008. The company currently has 11,472,355 shares in Treasury stock which amounts to 5.5021% of the current share capital.
First quarter 2009
Group sales in the first quarter 2009 are substantially in line with our expectations for the full year which are to achieve revenues of around € 750 million, operating income of around € 155 million and net income of around € 105 million.
| Type: | NORMAL |
| Company: | Recordati |
| Country: | 意大利 |
| Url: | http://www.recordati.it/rec_en/investors/releases/2009/2009-04-07pr/ |