BASF to raise dividend to 1.70 euros per share

LUDWIGSHAFEN, Germany - German chemicals giant BASF said on Tuesday it would propose raising its dividend payout to shareholders to 1.70 euros (2.24 dollars) per share for 2004 from 1.40 euros a year earlier.
BASF, the world's biggest chemicals maker, said in a statement it would pay a total 919 million euros in dividend for 2004.
Since 1994, the group has raised its dividend in eight out of 10 years.
The dividend announcement was released a day ahead of the publication of the group's 2004 results at BASF's annual earnings news conference.
The chemicals giant is pencilling in a sharp rise in operating profit thanks to booming global demand for chemicals.

03/08/2005 13:50 GMT