Cementir to boost dividend by 2008

Cementir to boost dividend by 2008
Published: 15 April 2005

Italian cement company Cementir SpA, a unit of local construction company Caltagirone, targets to raise its dividend to Euro 0.12 per share from Euro 0.7 per share paid for 2004, company chairman Francesco Caltagirone Jr said. The company plans to reduce its net financial debt to zero from the Euro 320m registered at the and of 2004. The net financial debt is calculated as the difference between a company’s financial debts and liquid assets. Cementir’s earnings before interest, tax, depreciation and amortisation (EBITDA) are expected to total some Euro 180m in 2005.  The 2004 turnover grew to Euro 395.1m.