Car rental company sky rockets
A payout of 1.18 euros per common share was proposed compared with 1.05 euros paid out for 2006, the Pullach-based company said in a statement today on PR newswire. The preferred- stock dividend would be raised to 1.20 euros a share from 1.07 euros. Sixt plans to pay out almost 30 million euros ($48 million) in dividends for 2007 after net income rose 27 percent to 93.6 million euros, the company said.
Germany's largest car- rental company, plans to ask shareholders to approve a 12 percent dividend increase following record sales and earnings in 2007.
The final annual financial statements for fiscal year 2007, that are published today, show renewed record figures with regard to revenue and earnings. Consolidated operating revenue from rental and leasing business (excluding revenue from the sale of used leasing vehicles) rose by 14.0%, from EUR 1.21 billion in 2006 to EUR 1.38 billion. Consolidated profit after taxes amounted to EUR 93.6 million, an increase of 26.9% as against the previous year's figure (EUR 73.8 million).
Source: Bloomberg
