Pernod Ricard proposes dividend

Pernod Ricard proposes dividend

Pernod Ricard has said it plans to pay an interim cash dividend of EUR0.61 (US$0.75) per share for its current fiscal year.

The interim dividend for the 12 months to to the end of June will be paid to shareholders on 7 July, said the producer of Absolut, Beefeater and Jacob's Creek today (25 June).

Pernod said that the dividend is higher than the EUR0.50 per share paid last year during the height of the global economic downturn.

However, it added that this year's dividend remains historically low.

"The current interim dividend was determined as being half the dividend paid in respect of the 2007/08 financial year, adjusted for both the preferential subscription rights granted as part of the capital increase of 12 May 2009 and the bonus share issue of 16 November 2009," the firm said.

"The group intends to resume from this year its past policy of distributing about one third of net profits from recurring operations."

Pernod will issue a full-year trading update on 22 July.