10/24/2005 8:20 AM|
October 24, 2005
Cargotec Corporation's Board of Directors has in its meeting confirmed the Company's dividend policy. Cargotec's growth targets and the resulting financing needs have been taken into account in determining the dividend policy. According to the dividend policy Cargotec's annual dividend will be 30-50 percent of the Company's net income.
The aim is to further strengthen Cargotec's global market leader position by growing both organically as well as through acquisitions. The Board of Directors states that in addition to profitable growth shareholder value creation will be supported by a competitive dividend policy and possible share buy backs.
For the year 2005 the dividend payout will be determined based on the net income of the Company's first official financial period of June 1–December 31, 2005.
Senior Executive Vice President and CFO
SVP, Investor Relations and Communications
For further information, please contact:
Kari Heinistö, Senior Executive Vice President and CFO, tel. +358 204 55 4542
Eeva Mäkelä, SVP, Investor Relations and Communications, tel. +358 204 55 4281
Cargotec Corporation is the world's leading provider of cargo-handling solutions for ships, ports, terminals and local distribution. Its three business areas, Kalmar, Hiab and MacGREGOR operate in materials hubs. Net sales of Cargotec were approximately EUR 1.9 billion in 2004. The company has approximately 7,400 employees and operates in over 160 countries. Cargotec's class B shares are listed on the Helsinki Stock Exchange.