Business News
BASF proposes dividend of 1.70 per share
Tuesday 02. March 2010 - The Board of Executive Directors of BASF SE today decided to propose to the Annual Meeting on April 29, 2010 a dividend of 1.70 per share for 2009. The decision is subject to approval by the companys Supervisory Board in its meeting on March 4, 2010.
BASF aims to increase its dividend each year or at least maintain it at the previous years level. In crisis year 2009, BASFs earnings were negatively impacted by expenses for the acquisition and integration of Ciba. The company therefore fell just short of earning its cost of capital. However, the reduced dividend proposal also reflects BASFs confidence for 2010.
On the basis of the number of qualifying shares as of December 31, 2009, the dividend of 1.70 per share would correspond to a total dividend payment of approximately 1.6 billion. Relative to the 2009 year-end share price of 43.46, BASF shareholders would thus receive a dividend yield of 3,9 percent. If the proposal is approved by the Annual Meeting, the dividend will be paid out on May 3, 2010.