The Spanish wine producer, Bodegas Riojanas, is to pay a €0.11 (US$0.135) net dividend per share on 5 July in respect of its 2004 financial results.

The company informed the Spanish stock market regulator of its decision on Wednesday 8 June following a general shareholders' meeting where a €0.13 gross dividend per share was approved.

The meeting also authorised the buyback of up to 5.0% of Bodegas Riojanas shares at prices ranging between €6.5 and €11.

Riojanas reported a net profit of €1.03m for 2004, up 4% year-on-year on sales 17% higher at €15.8m.