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Home Industry News Recordati to pay dividend of 0.24 euros per share

Recordati to pay dividend of 0.24 euros per share

8th April 2009

Recordati’s board of directors have approved a dividend payment of 0.25 euros (0.22 pence) per share.

The decision to increase the payout per unit by 0.035 euros was made at the annual shareholders meeting yesterday.

It will be remunerated to any shares outstanding as from April 23rd, excluding those held in treasury stock.

An increase of 16.7 per cent from last year, this year’s total amount of dividends will be 49.3 million euros.

It was also decided that the firm can buy up to 20,000,000 Recordati common shares, including those held in treasury stock, for a maximum cash sum of 120,000,000 million euros.

The use of shares for equity acquisitions or as consideration for strategic agreements was one of the reasons why this was permitted.

Last week, Recordati signed an agreement with Almirall for the marketing and sales of silodosin in Spain.

Using the centralised approval procedure, the former submitted the marketing approval authorisation to the European Medicines Agency last November and a decision is expected in the first half of next year.

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