German Cropenergies shareholders approve higher 2012/13 dividend

Jul 30, 2013 - The annual general meeting of German bioethanol producer Cropеnergies (ETR:CE2) approved today the distribution of a higher dividend for fiscal 2012/13 through February, the company said.

Cropenergies will thus pay EUR 0.26 (USD 0.36) apiece, up from the EUR 0.18 per share which was paid in dividends for the previous fiscal year.

The dividend for fiscal 2012/13 includes a special payment of EUR 0.06, which is payable thanks to the company's positive performance, Cropenergies said.

The bioethanol producer will thus distribute a total of EUR 22.1 million in dividends, up from EUR 15.3 million a year earlier.

However, Cropenergies today reduced its operating profit forecast for fiscal 2013/14, taking into consideration some effects from the acquisition of UK sector player Ensus Limited. Due to the commissioning of an Ensus production plant in the northeast of England, Cropenergies expects its operating profit to stand at between EUR 40 million and EUR 50 million in fiscal 2013/14 through February.

At the same time, revenue is seen growing by between 10% and 20% year-on-year.

(EUR 1.0 = USD 1.329)

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