Ecocem proposes capital restructure and dividend payment

Irish cement producer Ecocem is preparing to pay out large dividends, reports the Irish Times. Shareholders at Ecocem are likely to recieve healthy dividends after the group proposed to restructure its capital to allow it pay a dividend of up to EUR5m.

The directors said the proposed reduction in Ecocem's capital would create a distributable reserve "to allow for the prospect of the payment of dividends in future," as long as the company can afford it.

At the end of December, the directors declared, Ecocem Materials had total assets of EUR46m and liabilities of EUR6.5m.