Wacker Neuson Forgo Dividend

Wacker Neuson shareholders forgo dividend
in Earthmoving, Materials Handling, Concrete, Road Construction, Wacker Neuson on 01 June 2010

Wacker Neuson's shareholders have voted to forgo their dividend allowing the firm to carry forward last year's profit in full - a situation many listed companies would like to share.

Some 230 shareholders (representing almost 90% of the shares issued) attended the meeting and approved the move. They heard that the company greatly improved its financial and asset position last year and a 'considerable rise in orders' means revenue and profit for first quarter 2010 was up significantly on 2009.

Company president and chief executive officer Dr -Ing Georg Sick, said: "We remain optimistic about prospects for the current fiscal year and remain committed to our forecast for a rise in revenue of at least 5% and positive earnings figures."

Interesting headline don`t you think? Clearly the shareholders of this company are not relying on a dividend this year, and the institutional investors must support this move.

BP can you hear ??