MUNICH (dpa-AFX) - Shares of BayWa AG (BYWG) were gaining around 2 percent in the early morning trading in Germany after the operator in the agriculture, building materials and energy sectors reported Tuesday significantly higher earnings and revenues in its fiscal 2022. The Board further proposes a dividend increase plus payment of a special dividend.
For fiscal 2022, earnings before interest and tax or EBIT surged nearly 90 percent to 504.1 million euros from last year's 266.6 million euros.
Revenues stood at 27.1 billion euros in 2022, up from 19.8 billion euros a year ago.
Further, the Board of Management will propose to the Supervisory Board to raise the dividend for 2022 to 1.10 euros per share. In addition, a special dividend of 10 cents per share is to be paid this year to mark the 100th anniversary of BayWa.
BayWa will publish detailed figures for the financial year 2022 along with its balance sheet on March 30.
In Germany, BayWa shares were trading at 41.55 euros, up 1.6 percent.
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