Wincor expected to double stock

PADERBORN ,Germany- Wincor Nixdorf Internationalhas approved a dividend payment of €2.80 (U.S. $3.71) per share, up from €2.10 (U.S. $2.78) per share last year. The payment is slated to go through on Jan. 29. Approximately €46.32 million (U.S. $61.43 million) is expected to be paid out as dividends for fiscal 2005/2006.

 

According to a news release, the company's board of directors and supervisory board also have proposed that the company's capital stock be doubled through the issuance of new shares. Shareholders are expected to receive one additional share for each share they currently hold.

 

The issuance of bonus shares is expected to lower the current price of Wincor shares. Reducing the share price to an investor-friendly level will make Wincor shares more tradable, the company says.