The 11th annual general meeting of update software AG, which was held in Vienna on June 11, 2008, decided on a dividend in the amount of EUR 0.10 per eligible no–par share. update software AG, one of the leading European producers of premium CRM solutions, which is headquartered in Vienna, is listed on the Frankfurt stock exchange. With its dividend decision, the annual general meeting followed the suggestion of the Executive Board. In 2007, update achieved the highest sales and the best results in company history. Sales increased by 39.3% as compared to the previous year, to EUR 32,538 million, while operative earnings (EBIT) increased by 51.9% to EUR 3,705 million. After update achieved record values in 2006, the figures for fiscal 2007 significantly exceed any previous sales and earnings records.
Given the solid and significant growth of the CRM specialist update, CFO Monika Fiala anticipates that in coming years, the prerequisites for a dividend payment will also be fulfilled: "Based on the continuing good annual results in the last five years, we are pleased to be able to offer the shareholders of update software AG an enduring dividend policy in the future without moving away from our aggressive growth strategy and additional planned acquisitions."
The payment of the dividend by update for the fiscal year 2007 will be made less 25% withholding tax on capital –– insofar as there is no exception from the levying of the withholding tax on capital –– starting on June 18, 2008 via a credit based on the balance of deposits booked at the custodial credit institutions on June 11, 2008. The Bank Austria Creditanstalt AG in Austria and the Bankhaus Gebrüder Martin AG will function as the appointed paying agents. The trade ex dividend 2007 will take place on the Frankfurt stock exchange starting on June 12, 2008.
About update software AG
update software AG (www.update.com) was founded in Vienna in 1988. With nearly 300 employees and sales of EUR 32.5 million in 2007, it is the leading European supplier of premium CRM solutions. update software AG is listed on the German stock exchange in Frankfurt am Main. Today, update´s products are used by more than 1300 companies and more than 150,000 users. update´s clients include, among others: 3M, American Express Bank and Financial Management, the advertising department of the newspaper group BILD, AstraZeneca, BAWAG P.S.K., Canon, DuPont, ESTAG, Kärcher, LBS Nord, MagnaSteyr, Pernod Ricard, ratiopharm, Saint–Gobain Isover, Sony Deutschland, UnicreditBank Hungary as well as the Sparkasse Bremen and 200 other German savings banks. update also has strategic partnerships with companies such as Atos Origin, Hewlett Packard, Sensix, and Steria Mummert Consulting.
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