LVMH Moët Hennessy Louis Vuitton has approved an increased full-year dividend.

The France-based company said yesterday (14 May) that its annual shareholders meeting, held last Wednesday, passed a net dividend payment for 2006 of EUR1.40 per share.

The payment marks a 22% increase on the dividend issued a year earlier. Taking into account the EUR0.30 paid in early December, the remaining EUR1.10 will be paid to shareholders today, LVMH said.

In February, LVMH posted an 11% rise in earnings from its wine and spirits business in 2006. Operating profit reached EUR962m (US$1.3bn) as sales in 2006 lifted 13% to just under EUR3bn.