BASF plans to increase cash returned to shareholders
- Dividend to be raised to €3.00 per share
- Share buyback program for a total of €3 billion planned for 2007 and 2008
The Board of Executive Directors of BASF Aktiengesellschaft today (February 22, 2007) decided to propose to the Annual Meeting on April 26, 2007 to increase the dividend for 2006 by €1.00 to €3.00 per share. The decision is subject to approval by the company’s Supervisory Board in its meeting on February 27, 2007.
On the basis of the number of qualifying shares as of December 31, 2006, this would correspond to a total dividend payment of approximately €1.5 billion. Relative to the 2006 year-end share price of €73.85, BASF shareholders will thus receive a dividend yield of 4.1 percent. If the proposal is approved by the Annual Meeting, the dividend will be paid out on April 27, 2007.
The Board of Executive Directors of BASF Aktiengesellschaft also resolved to buy back shares for a total of €3 billion in 2007 and 2008. The share buyback is subject to the appropriate authorizations by the Annual Meeting.
BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products, agricultural products and fine chemicals to crude oil and natural gas. As a reliable partner to virtually all industries, BASF’s high-value products and intelligent system solutions help its customers to be more successful. BASF develops new technologies and uses them to meet the challenges of the future and open up additional market opportunities. It combines economic success with environmental protection and social responsibility, thus contributing to a better future. BASF has over 95,000 employees and posted sales of €52.6 billion in 2006. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA), New York (BF) and Zurich (AN). Further information on BASF is available on the Internet at www.basf.com.
This release contains forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, estimates and projections of BASF management and currently available information. They are not guarantees of future performance, involve certain risks and uncertainties that are difficult to predict and are based upon assumptions as to future events that may not prove to be accurate. Many factors could cause the actual results, performance or achievements of BASF to be materially different from those that may be expressed or implied by such statements. Such factors include those discussed in BASF’s Form 20-F filed with the Securities and Exchange Commission. We do not assume any obligation to update the forward-looking statements contained in this release.