BASF to Pay Special Dividend; EK 45 To be Paid to Shareholders.Business Editors LUDWIGSHAFEN, Germany--(BUSINESS WIRE)--Oct. 20, 2000 BASF BASF Bar Association of San Francisco (since 1872; San Francisco, California) BASF Badische Anilin und Soda Fabrik (German chemical products company) BASF Builders Association of South Florida Aktiengesellschaft intends to pay its retained earnings Retained Earnings The percentage of net earnings not paid out in dividends, but retained by the company to be reinvested in its core business or to pay debt. It is recorded under shareholders equity on the balance sheet. charged with 45 percent corporation tax (EK 45) to its shareholders in full in 2001. A proposal to this effect is to be made to the Annual Meeting on April 26, 2001. Thus, in addition to the dividend reflecting business development, there will be a special dividend of Euro 0.7 per share. "We want our shareholders who are subject to German income or corporation tax to be credited in full with the 45 percent corporation tax paid by the company," is how Max Dietrich Kley, deputy chairman and chief financial officer of BASF Aktiengesellschaft, explained the company's intention. For 1999, BASF paid a dividend of Euro 1.13 per share. The Board of Executive Directors of BASF Aktiengesellschaft will propose the dividend for 2000 in the spring of 2001. BASF is a return-focused global company generating long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. growth and profitability from its activities in chemicals, health and nutrition, and oil and gas. The company's product range includes high-value chemicals, plastics, dyestuffs dyestuffs npl → colorants mpl dyestuffs dye npl → Farbstoffe pl dyestuffs npl → coloranti and pigments, dispersions, automobile and industrial coatings An industrial coating is a paint or coating defined by its protective, rather than its aesthetic properties, although it can provide both. The most common use of industrial coatings is for corrosion control of steel or concrete. , crop protection products, pharmaceuticals, fine chemicals, crude oil and natural gas. BASF's approach to integration, known in German as "Verbund," is one of the company's particular strengths and provides a unique competitive advantage. With sales in 1999 of Euro 29.5 billion (about $29.5 billion) and a workforce of 105,000 employees, BASF is one of the world's top chemical companies. BASF's Internet address There are two kinds of addresses that are widely used on the Internet. One is a person's e-mail address, and the other is the address of a Web site, which is known as a URL. Following is an explanation of Internet e-mail addresses only. For more on URLs, see URL and Internet domain name. is www.basf.com. |
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