08 March 2005 17:20 [Source: ICIS news]
LONDON (CNI)--BASF said on Tuesday it plans to return about Euro1.8bn ($2.4bn) to shareholders in dividend payments and the buyback of shares.
In an announcement on the eve of its 2004 financial results, BASF said it was proposing to pay an increased dividend for 2004 of Euro1.70 ($2.25) per share on 29 April. Last year's dividend payout was Euro1.40 a share.
The proposed April payment would correspond to a total dividend payout of Euro919m on the basis of the number of qualifying shares as of 31 December, 2004, the company said.
In addition, BASF's share buyback programme will result in a total dividend payable of Euro913m based on the number of qualifying shares as of 22 February, 2005.
Relative to the 2004 year-end share price of Euro53, BASF shareholders will receive a dividend yield of 3.21%, said BASF.
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