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CHILE: Concha y Toro lines up dividend payout

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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."


Sectors: Wine

Companies: Concha y Toro

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