BERLIN (dpa-AFX) - Suedzucker's chief Executive Officer Wolfgang Heer said the company believes that situation in the sugar market will normalize after a transition phase and that the market and price structure will again reach a sustainable and profitable level.
At the annual meeting of shareholders, Wolfgang Heer said, 'In the sugar segment we are currently operating in a difficult environment with worldwide production overcapacity and extremely low prices with which hardly any sugar producer can operate profitably.'
On 19 July 2018, shareholders voted in favor of the supervisory and executive boards' recommendation to pay a dividend of 0.45 euros per share, compared to 0.45 euros per share paid last year. Based on 204.2 million issued shares in circulation, the total dividend distribution will be 91.9 million euros. Last year the total distribution was also 91.9 million euros.
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