HUGO BOSS to pay special dividend of EUR 5 per share

14 Mar '08

2 min read

After a successful close to fiscal 2007 and based on a positive assessment of the Company's continued performance, the Supervisory and Managing Boards of HUGO BOSS AG have decided to propose to the Annual Shareholders' Meeting to increase dividends by EUR 0.26 to EUR 1.45 (2006: EUR 1.19) per common share and EUR 1.46 (2006: EUR 1.20) per preferred share.

The Supervisory Board also gave consideration to the Managing Board's proposal of paying a special dividend to reflect the capital structure that is planned for the future, and has concurred with the recommendation to pay a special dividend of EUR 5.00 per common and preferred share for fiscal 2007.

"Our strategic orientation will not change, and the Managing and Supervisory Boards will continue to stand behind the growth strategy already in place," stated Joachim Reinhardt, Chief Financial Officer of HUGO BOSS AG. "In the future, we will continue to focus on expanding and internationalizing the Group.

By paying a special dividend, HUGO BOSS is enabling all shareholders to participate in the Company's success and improving the capital structure while at the same time maintaining the Company's financial flexibility to continue growing organically and making acquisitions."

At today's session, the Supervisory Board accepted the financial statements of HUGO BOSS AG for the year ended December 31, 2007 as prepared by the Managing Board and approved the consolidated financial statements of the HUGO BOSS Group.

According to the 2007 financial statements, the fashion group increased sales in the past fiscal year by 9% (currency adjusted: 12%) from EUR 1,496 million to EUR 1,632 million. Earnings before interest and taxes rose by 19% to EUR 220 million (2006: EUR 184 million), and net income increased by 20% to EUR 154 million (2006: EUR 129 million).

HUGO BOSS AG

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