German CropEnergies triples dividend for FY 2010/11 to EUR 0.15

Jul 21, 2011 - German bioethanol producer CropEnergies (ETR:CE2) will triple its dividend for fiscal 2010/11, which ended February 2011, to EUR 0.15 (USD 0.21) per share from EUR 0.05 for the previous fiscal year.

Therefore, the company will distribute a total of EUR 12.8 million in dividend payments, up from EUR 4.3 million a year earlier.

For the ongoing fiscal 2011/12, which began on March 1, CropEnergies expects a revenue of between EUR 520 million and EUR 570 million, following EUR 473 million registered for the previous year. Operating margin is seen unchanged on the year at around 10%.

In addition, the company plans to expand its activities outside the European market and has therefore established a branch in Houston, USA. The new company's unit is expected to strengthen CropEnergies' presence in the USA, Brazil and Europe.

(EUR 1.0 = USD 1.415)

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