EANS-News: Balda plans additional special dividend of EUR 88 million (with document)
14.03.2013 – 16:05
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Dividend Announcements/Distribution/Dividend Bad Oeynhausen (euro adhoc) - * Supervisory Board and Management Board plan proposing distribution of EUR 1.50 per share to Annual General Meeting in autumn * Proceeds from the sale of remaining stake in TPK to be passed on to shareholders in full * CEO Dominik Müser: "Even after the distribution, Balda will be able to keep growing." Bad Oeynhausen, 14 March 2013 - Balda AG plans its third special dividend in two years. The Supervisory Board of the international manufacturer of high-quality plastics products for various industrial applications voted in today's meeting to approve the Management Board's plan to pay a special dividend of EUR 1.50 per share for the current financial year 2012/2013 (reporting date: 30 June). Assuming that the Annual General Meeting votes in favor, EUR 88.3 million would be distributed this autumn. This corresponds to nearly the full proceeds of EUR 89.2 million (final amount after translation of proceeds into euros) from the sale in January of the Balda Group's remaining two-percent stake in touch screen manufacturer TPK Holding. The Supervisory Board issued its approval after a thorough analysis of the medium-term planning for the Balda Group submitted by the Management Board based on the growth strategy approved in 2012, which projects a medium-term increase in consolidated sales to EUR 150 to 200 million to be achieved mainly by making focused acquisitions. This buy-and-build strategy is based on the Group's excellent liquidity, which provides the Group ample room to maneuver. In the 2012 calendar year, Balda AG distributed two special dividends totaling EUR 3.30 per share after the sale of the blocks of TPK shares. Along with the planned additional special dividend, the distribution would amount to EUR 4.80 per share or around EUR 283 million. This would be approximately 59% of the total of roughly EUR 482 million accruing since February 2012 from the three sales of TPK shares. Dominik Müser, Chief Executive Officer of Balda AG: "The Group's excellent financial position allows us to once again pass on the gains from the TPK sales to our shareholders. This correlates with our belief that our shareholders are entitled to funds not required to implement operations or strategy. Despite the planned additional distribution, we are in a position to further pursue our corporate expansion and value-growth strategy as planned. Initial successes are already evident." About Balda Balda is a provider of first-class solutions for demanding, high-quality applications in the fields of medical technology, optics, the automotive industry and other specialist industrial sectors. The Group's Balda Medical and Balda Technical operating divisions have operations worldwide, and the company maintains production facilities in Germany, the USA and Malaysia. The success of Balda, which employs more than 1,700 people, is based on the deployment of leading-edge, cost-effective technologies, coupled with the trust-based collaboration with customers. The Balda AG share (ISIN: DE0005215107) is listed on the SDAX segment of Deutsche Börse. {www.balda.de}[HYPERLINK: http://www.balda.de] {www.balda-medical.de}[HYPERLINK: http://www.balda-medical.de] Attachments with Announcement: ---------------------------------------------- http://resources.euroadhoc.com/us/MJt9jQmJ http://resources.euroadhoc.com/us/2YZjfm8R Further inquiry note: Contact: Frank Elsner Frank Elsner Kommunikation für Unternehmen GmbH Tel.: +49 - 54 04 - 91 92 0 Fax: +49 - 54 04 - 91 92 29 Mail: office@elsner-kommunikation.de end of announcement euro adhoc -------------------------------------------------------------------------------- Attachments with Announcement: ---------------------------------------------- http://resources.euroadhoc.com/us/MJt9jQmJ http://resources.euroadhoc.com/us/2YZjfm8R company: Balda Aktiengesellschaft Bergkirchener Str. 228 D-32549 Bad Oeynhausen phone: +49 (0) 5734 9 22-0 FAX: +49 (0) 5734 922-2604 mail: info@balda.de WWW: http://www.balda.de sector: Semiconductors & active components ISIN: DE0005215107 indexes: SDAX, Prime All Share stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart, regulated dealing/prime standard: Frankfurt language: English