AUBAGNE, France--(BUSINESS WIRE)--Regulatory News:
The Board of Directors of Sartorius Stedim Biotech S.A. (Paris:DIM) resolved to submit a proposal to the Annual General Shareholders' Meeting (AGM) on April 5, 2016, to pay a dividend of €2.00 per share for fiscal 2015, up from €1.30 a year earlier. The total profit distributed would rise from €20.0 million by 53,9% to €30.7 million.
Moreover, the Board of Directors decided to submit resolutions to the Shareholder Meeting to split by 6 the par value of each of the Company’s shares (stock split). As a result, shareholders would receive 6 shares in exchange for each share held in Sartorius Stedim Biotech. This share split operation would be executed without any additional costs or formalities for the shareholders and will have no impact on their rights. The proposed stock split is a result of the significant increase of the share price in the past 2 years and aims at increasing the tradability of Sartorius Stedim Biotech shares.
This press release contains statements about the future development of the Sartorius Stedim Biotech Group. We cannot guarantee that the content of these statements will actually apply because these statements are based upon assumptions and estimates that harbor certain risks and uncertainties.
A profile of Sartorius Stedim Biotech
Sartorius Stedim Biotech is a leading international supplier of products and services that enable the biopharmaceutical industry to develop and manufacture drugs safely and efficiently. As a total solutions provider, Sartorius Stedim Biotech offers a portfolio covering nearly all steps of biopharmaceutical manufacture. The company focuses on single-use technologies and value-added services to meet the rapidly changing technology requirements of the industry it serves. Headquartered in Aubagne, France, Sartorius Stedim Biotech is quoted on the Eurolist of Euronext Paris. With its own manufacturing and R&D sites in Europe, North America and Asia and a global network of sales companies, Sartorius Stedim Biotech has a global reach. The company employs approx. 4,200 people, and in 2015 earned sales revenue of 884.3 million euros.