Swatch Group Clocks Profit Increase, Will Boost Dividend
Swatch Group reported positive numbers in its just-released 2012 results, and the company also said it will increase its dividend. Swatch posted sales of 8.1 billion Swiss francs ($8.9 million), just over its target for the year and 14% higher than 2011's result. Net income was $1.6 billion francs ($1.8 million), a 26% year-over-year improvement.
On the back of those financials, the company's board will propose a dividend of 6.75 francs ($7.43) per bearer share and 1.35 francs ($1.49) for each registered share. These are 17% higher than last year's payout.
Bearer shares were most recently trading at around 543 francs ($598) on the Swiss Exchange, meaning they would yield 1.2% at the new dividend level.
The article Swatch Group Clocks Profit Increase, Will Boost Dividend originally appeared on Fool.com.Fool contributor Eric Volkman and The Motley Fool have no position in Swatch Group. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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