Brazilian investors to gain EUR68m in Cimpor dividends

Brazilian investors to gain EUR68m in Cimpor dividends
Published: 11 April 2010

Brazilian diversified holding groups Camargo Correia and Votorantim will probably gain EUR68m (US$91.1m) in dividends from Portuguese cement producer Cimpor.

Several weeks after becoming shareholders in Cimpor, Camargo will receive EUR 39.5m and Votorantim – EUR 28.4m from their shareholdings in the Portuguese firm, economic daily Diario Economico said on Friday.

On Wednesday, Cimpor said it will propose for 2009 an annual dividend of EUR 0.20 per share, up 8.1% on the year, at the general shareholders meeting on April 29.

The dividend corresponds to a pay-out of 56.7%, as the company reported a net profit of EUR 237m for 2009, up 8% YoY.