L’OREAL DIVIDEND UP 29.4%

PARIS — French beauty giant L’Oreal announced its 2000 dividend has risen by 29.4 percent and will be paid earlier than last year if its shareholders give the nod.
The board of directors will propose a net dividend of $0.39 per share, with a tax credit of $0.19, at its general meeting on May 29. This represents an increase of 29.4 percent, compared with the net dividend of $0.30 last year. It is payable on 676,062,160 shares, a number that grew following last July’s 10-for-one stock split.
All monetary figures are converted at current exchange rates.
The dividend is to be paid on June 8, seven days earlier than in 2000.
As reported, the company’s net profits grew 24.2 percent in 2000, to $940 million, on sales of $11.7 billion, up by 10.5 percent.