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Article: Arnault predicts LVMH operating net will rise. (Bernard Arnault, Louis Vuitton Moet Hennessy, luxury goods industry)
- Article from:
- WWD
- Article date:
- June 6, 1991
- Author:
CopyrightCOPYRIGHT 1991 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PARIS -- Group operating profit of LVMH Moet Hennessy Louis Vuitton will rise in 1991, chairman Bernard Arnault told shareholders at the luxury conglomerate's annual meeting Wednesday. He declined, however, to offer precise predictions.
Arnault was more specific when he announced that LVMH will increase its dividend by 10 percent to 68 francs ($11.50), news which won him loud applause from the floor. The total dividend payout will be 945 million francs ($159.9 million), or some 28 percent of last year's net profits.
Arnault also said the firm planned a free stock distribution of one share for every 10 already held by investors, engendering further ...