Continental triples share dividend estimates
Continental AG has announced that the company plans to pay a dividend of 1.5 euros per share for the 2011 fiscal year, almost tripling analyst estimates of 0.55 euros. Based on the approximately 200 million shares outstanding, the proposed amount to be distributed totals roughly 300 million euros. This equates to a payout ratio of about 24 per cent, according to an official statement on the subject.