CHILE: Concha y Toro lines up dividend payout
Concha y Toro has posted details of its dividend payment.
The Chilean wine company, which last week reported a 4.4% slide in full-year operating income, said yesterday (6 March) that a provisional dividend of CLP1.80bn (US$3.35m) will be paid to shareholders on 30 March.
Concha y Toro said the dividend, which will be charged to net profit for 2006, is equivalent to CLP2.50 per share.
While operating income slid to CLP24.3bn in 2006, off the back of a 5% lift in sales to CLP215.8bn, net profit at the wine producer fell by 16.9% year-on-year to CLP16.16bn.
The company blamed the currency exchange rate and higher costs in 2006 for the figures, and remained upbeat for 2007. "Looking at our export performance," a spokesperson told just-drinks, "the results for last year are quite satisfactory."
US wine consumption rose 3.4% in 2006, continuing the sector's climb for the 13th consecutive year, according to research out this week....
Growth in its premium wines and strong export growth have helped Vina Concha y Toro report a 70.4% rise in net income for the second quarter to CLP8.77bn (US$16.7m)....
Central European Distribution Corporation has acquired a Polish alcoholic drinks distributor....
Wine exports from Chile stood at US$1.066bn during the 12 months from April last year, according to recent reports....
Central European Distribution Corporation has lined up a distribution agreement in Poland....
Vina Concha y Toro has seen its Q1 figures soar on the back of strong exports....
Concha y Toro has secured a deal to rent the facilities of Vina Canepa in Chile....
Central European Distribution Corporation has set out its stall for 2007....
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