Home / Knowledge / News / Textiles / LANXESS quadruples dividend
LANXESS quadruples dividend
02
Jun '08
The Board of Management and the Supervisory Board of specialty chemicals company LANXESS AG proposed to the stockholders at this year's Annual Stockholders' Meeting in Cologne that the dividend be significantly increased.

According to the proposal, LANXESS's dividend is to be quadrupled from 25 cents for 2006 to EUR 1.00 per share for 2007, putting it in line with those of other companies in the sector.

At the same time, this substantial increase reflects the company's successful strategy of profitable growth. The goal is to allow the stockholders, too, to share appropriately in the company's successful performance in 2007, following the performance-oriented bonus payments received by the employees.

The company plans to maintain this dividend policy in the future. “We want all our stockholders to benefit from the success of LANXESS in the coming years as well,” said Axel C. Heitmann, Chairman of the Board of Management of LANXESS AG, explaining the proposal.

Correct strategy enables raw material costs to be passed on “We have set the right course for the future success of LANXESS,” continued Heitmann.

“We will continue to consistently apply our successful price-before-volume strategy, which so far has enabled LANXESS to quickly pass on raw material price increases in full to its customers.”

The LANXESS Group's good start to 2008 also shows that the company is strategically aligned in the right direction. Sales were up by 8.1 percent year on year in the first three months on a portfolio- and currency-adjusted basis.

Must ReadView All

Courtesy: Pan Brothers

Apparel/Garments | On 30th May 2017

Pan Brothers to set up 2 new garment factories

PT Pan Brothers Tbk plans to increase its production capacity by...

Apparel/Garments | On 30th May 2017

Levy uniform rate of GST on yarn & fibre: SIGA

The South Indian Garment Association (SIGA) has urged Union finance...

Textiles | On 30th May 2017

ExxonMobil, SABIC sign deal for next phase of US project

Affiliates of Exxon Mobil Corporation and Saudi Basic Industries...

Interviews View All

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search