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FRANCE: Rémy Cointreau outlines FY dividend details

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Rémy Cointreau's shareholders have approved the French company's annual dividend payment proposal.

At the wine and spirit group's general meeting yesterday (16 September), an overall dividend of EUR1.30 per share was approved, with shareholders granted the option to either take the payment in cash, or have it split between payment in shares (for EUR0.65) and in cash (also for EUR0.65).

The dividend coupon will be detached on 19 September and the dividend will be payable from 8 October, the company said.

Shareholders wishing to opt for the payment of the dividend in shares will have until 3 October to exercise the option, with those that do not take the option receiving the cash dividend on 8 October.

The issue price of the new share will be EUR31.60.

In June, Rémy posted a 14% year-on-year lift in operating profit for its fiscal year to the end of March, to EUR159.6m (US$247.6m). Sales in the year increased organically by 9.7% to EUR817.8m. The company boasted that its performance had exceeded its own guidance, with own brands - up 9.7% organically - being the main reason for the rises.


Sectors: Spirits, Wine

Companies: Cointreau

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