Swatch Group Clocks Profit Increase, Will Boost Dividend

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Swatch Group (NASDAQOTH: SWGAY  ) reported positive numbers in its just-released 2012 results, and the company also said it will increase its dividend. Swatch posted sales of 8.1 billion Swiss francs ($8.9 million), just over its target for the year and 14% higher than 2011's result. Net income was $1.6 billion francs ($1.8 million), a 26% year-over-year improvement.

On the back of those financials, the company's board will propose a dividend of 6.75 francs ($7.43) per bearer share and 1.35 francs ($1.49) for each registered share. These are 17% higher than last year's payout.

Bearer shares were most recently trading at around 543 francs ($598) on the Swiss Exchange, meaning they would yield 1.2% at the new dividend level.

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Related Tickers

9/26/2016 3:59 PM
SWGAY $14.10 Down -0.12 -0.81%
Swatch CAPS Rating: ***