The board of directors of Bandag, Incorporated, has announced an increase in the regular quarterly dividend from $0.33 per share to $0.335 per share on the Common Stock, Class A Common Stock and Class B Common Stock of the company. The dividend is payable 20 January 2006 to shareholders of record at the close of business on 20 December 2005.
(India/Rubber Asia) Leading Indian tyre maker, Apollo Tyres Ltd, reported a net profit of 166.9 million (£2.07 million) for the first quarter ended 30 June against 156.3 million rupees last year.
(Akron/Tire Review) Bandag Inc. has declared a regular quarterly dividend of $0.33 per share on Common Stock, Class A, Common Stock and Class B Common Stock. The dividend is payable 20 October to shareholders from the close of business on 20 September.
The board of directors of Carlisle Companies Incorporated has declared a regular quarterly dividend of $0.25 per share, payable on 1 September 2005 to shareholders of record at the close of business on 19 August 2005. This marks the 29th consecutive year of dividend increases for Carlisle shareholders. Richmond McKinnish, Carlisle’s president and CEO commented, “We are pleased to be able to continue Carlisle’s long history of rewarding our shareholders by increasing Carlisle’s quarterly dividend.”
Analysts are predicting that Continental will record strong EBITA growth “in the magnitude of 30 – 35 per cent,” alongside “limited sales growth” when the company reports its second quarter figures tomorrow. “However, this will be nearer 2-3 per cent on a like for like basis due to a particularly strong second quarter in 2004 (i.e. passenger car sales went up 9 per cent in the second quarter of 2004). Due to higher Capex and the full payment of the dividend, we don’t expect any debt reduction in the second quarter. Debt reduction should accelerate in the the third and fourth quarters,” the Deutsche Bank analysts added.
(Akron/Tire Review) Cooper Tire & Rubber Co. declared its 134th consecutive quarterly dividend – 10.5 cents per share on common stock – earlier this week. That marks some straight 33 years of paying dividends each quarter. The dividend will be payable Sept. 30 to stockholders of record at the close of business on Sept. 2, said the company.
The executive board of Beru AG says it aims to increase earnings and sales revenues by high single digit rates. Beru AG increased its total revenues by 8.8 per cent to 385.8 million euros in the past financial year. EBIT decreased to 50.5 million euros, due to one-time exceptional effects totalling 5.0 million euros. In addition, the company’s executive committee and supervisory board want to suggest a dividend of 1.10 euro for each share to the general meeting on 21 September 2005. Despite increasingly tough competition and pressure on prices, BERU believes it is well positioned for the future with its strong product pipeline.
The board of directors of Titan International, has approved a quarterly cash dividend of $.005 (one half cent) per common share for the second quarter of 2005. The cash dividend is payable on 15 July 2005, to stockholders of record on 30 June 30 2005.
Superior Industries International, has announced a 3.2 per cent increase in the company’s quarterly cash dividend, to $0.16 per share at today’s AGM. The new, higher dividend is payable to shareholders on 15 July 2005.
“We always are pleased to increase the cash dividend, particularly as we are faced with the difficult challenges of an increasingly competitive environment and the rapid globalisation of the automotive industry,” said president and chief executive officer, Steven Borick. “This latest dividend increase demonstrates the Board’s conviction that we have the right long-term strategy to protect and enhance our industry leadership, and the discipline, determination, and resources required to successfully implement our plans for the future.”
Executives at Michelin’s AGM have reiterated their target of achieving at least the same operating profit margin in 2005 as they did in 2004, despite lower volumes in the first half of this year. At the same time the company appointed Michel Rollier as new managing partner.
Cooper Tire & Rubber Company today announced a quarterly dividend of 10.5 cents per share on common stock, payable 30 June 30 2005, to stockholders of record at the close of business 3 June 2005. The payment is the 133rd consecutive quarterly dividend paid by Cooper Tire & Rubber Company.
Bandag’s board of directors has declared a regular quarterly dividend of $0.33 per share on the company’s Common Stock, Class A Common Stock and Class B Common Stock. The dividend is payable 20 July 2005 to shareholders of record at the close of business on 20 June 2005.
The general meeting of Pirelli & Co has approved the distribution of a shareholder dividend of 0.0210 euros per ordinary share and 0.0364 euros per savings share.
Pirelli Spa & C will pay a smaller dividend for the 2004 financial year than it did for 2003. The Italian company has proposed to pay a dividend of 0.021 euros per ordinary share and 0.0314 euros per savings share. The ordinary share dividend is 30 per cent lower than last year, when the company paid out 0.031 euros and 0.414 euros respectively. In spite of the dividend decrease the company paid out 113 million euros, more than it did in previous years.
Continental AG’s executive board has announced that it will propose a payment of 0.80 euros per share to the Annual Shareholders meeting. The record dividend represents an increase of 53.8 per cent over the previous year’s payment of 0.52 euros per share. According to Continental, “a considerable improvement in cash flow and a marked reduction in corporate debt allow for the proposed dividend.” At the end of the 2004 the company’s net debt dropped to under 700 million euros, including debt assumed from the company’s acquisition of Phoenix.
“Investors are to share in Continental AG’s business success not only in the form of a much higher stock market value for their company but also in the form of a more than 50 per cent increase in the per-share dividend, raising it to the highest level in the history of the company,” said executive board chairman Manfred Wennemer.
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