Inditex approves €0.18 bonus dividend per share to shareholders
18 Jul '05
2 min read
Largest fashion group Indetex, The Annual General Meeting of Shareholders of Industria de Diseño Textil, S.A., Inditex, held in Arteixo, has approved the annual accounts for FY2004 and the distribution of income or loss, as well as the distribution of a dividend amounting to €0.48 per share.
Likewise, the AGM has approved and ratified the appointment as ordinary members of the Board of Directors of Mr. Pablo Isla Álvarez de Tejera, Gartler, S.L. –represented by Ms. Flora Pérez Marcote- and Mr. José Luis Vazquez Mariño, as well as the re-election to the Board of Mr. Amancio Ortega Gaona, Mr. José Mª Castellano Ríos and Mr. Juan Manuel Urgoiti López de Ocaña.
The approved dividend totals € 299,199,000, which represents a 48% pay out with regard to the net income. Remuneration to shareholders is in the form of an ordinary dividend of € 0.30 per share and a bonus dividend of € 0.18 per share, payable on 21 July 2005 through those entities where shareholders have their shares deposited.
The AGM has also passed, among other resolutions, that of a change in the remuneration system in respect of the Chairman, for whom a sole remuneration in all regards of 600,000 euros, is fixed.
Spain based Inditex is one of the worlds largest fashion distributors, with eight sales formats -Zara, Pull and Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home y Kiddy's Class- boasting 2.400 stores in 57 countries. The Inditex Group is comprised of over one hundred companies associated with the business of textile design, manufacturing and distribution.
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