FRANCE: Rémy Cointreau approves dividend
Rémy Cointreau has approved a shareholder dividend of EUR1.3 (US$1.8) for its most recent financial year.
The dividend, approved at a Rémy Cointreau shareholders meeting this week, will be payable from 1 October.
Shareholders can choose to be paid in cash or convert half of their dividend payment into shares, at EUR0.65 each, in the Cognac and Champagne group.
Shareholders wishing to opt for the payment of the dividend in shares will have the period from 31 July 2009 to 14 September inclusive to submit a request. The issue price of the new shares will be EUR23.45.
Earlier this month, Rémy reported a 40% drop in Champagne sales for its fiscal first quarter, to the end of June.
The Cognac market has not surprisingly been affected by the global economic downturn, but, according to a new report from IWSR/just-drinks, Asian markets have proved relatively resilient, compensating...
Cognac exports dropped 12% by volume in 2009, but staged a mini-recovery in the last few months of the year, new figures show....
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