AEM chairman says dividend growth rate will increase after ASM merger |
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Published
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Mon, 22 Oct 2007 11:53
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MILAN (Thomson Financial) - AEM SpA chairman Giuliano Zuccoli said he expects the rate of dividend growth to increase after the merger with ASM Brescia SpA.'As AEM we have always promised a dividend growth of 3-5 pct per year, but now we are a bigger outfit and with more resources we'll try and increase that to give shareholders greater satisfaction,' Zuccoli said.Zuccoli confirmed that an earlier estimate of synergies from the ASM merger equal to 80 mln eur a year 'is a cautious number'.He said the group's new business plan is currently being put together.AEM-ASM have already said they expect merger costs over the period 2007-2010 to be around 25 mln eur.AEM shareholders today approved the merger with ASM.An ASM shareholders' meeting to approve the deal is currently under way.stephen.jewkes@thomson.comsj/rwCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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GDF, Suez see merger in H1 2008, 10 pct EBITDA rise in 2008, rising dividends 