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Hanover (pts048/29.01.2003/22:09) - AWD, Europe's leading provider of financial services, is to distribute an attractive dividend to its shareholders for the 2002 financial year, despite the currently difficult economic situation. The Board of Management of AWD Holding AG will propose to the Supervisory Board that a dividend of 50 euro-cents per share is distributed for 2002. This dividend proposal must then be approved by the Annual Meeting to be held on 4 June 2003.
"Our dividend-distribution policy is both beneficial to the shareholders and an expression of our expectations for long-term growth and earnings," stated Carsten Maschmeyer, Chairman of the Board of Management of AWD Holding AG. "AWD's potential for the future will allow us to propose a distribution at least as high as this one also in the coming years. Despite these high dividends, we will distribute on average less than half of our net profits."
The takeover phase was successfully completed in 2002 with the acquisition of tecis Holding AG in Germany, the independent financial advisor CarringtonCarr in the United Kingdom, and the companies Finance.EU and ECG in Central and Eastern Europe.
Meanwhile, AWD generates 42% of total revenues outside Germany, thus stabilising its earnings trend. In 2003 AWD will focus on exploiting the potential for organic growth and on substantially increasing profitability. The company will continue to fund growth out of its own cash flow while pursuing a course of dividend continuity.
AWD will announce its preliminary figures on business developments in 2002 at the end of February 2003. "Despite the challenging economic environment, in the 2003 financial year we will also achieve double-digit growth in revenues and earnings," said Maschmeyer. "Independent advice and financial planning are increasingly demanded particularly in difficult times - with our business model and as the leading independent provider of financial services in Europe we will grasp the opportunities presented by the market and further extend our competitive position." http://www.awd.de
WKN: 508 590; ISIN: DE0005085906; Index: MDAX
Listed: Amtlicher Markt in Frankfurt und Hannover; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München und Stuttgart
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