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BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
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WFS declares cash dividend

07 Mar 2012 06:51 GMT

Latest cash dividend follows 27 percent rise in fourth quarter net income.



Leading marine, aviation and land fuel specialist World Fuel Services Corporation (WFS) has announced that its board of directors has declared a quarterly cash dividend of $0.0375 per share payable on April 6, 2012 to shareholders of record on March 23, 2012.

Net income during the three months to December 31st 2011 rose by $10.7 million, or 27 percent, to $50.1 million, or $0.70 diluted earnings per share, up from $39.4 million, or $0.56 diluted earnings per share, in the fourth quarter of 2010.

The company’s marine segment generated gross a profit of $54.2 million, representing an increase of approximately $4.1 million, or 8 percent, sequentially and $12.6 million, or 30 percent, year-on-year.

Full year net income in 2011 was $194.0 million, or $2.71 diluted earnings per share, compared to $146.9 million, or $2.31 diluted earnings per share, in 2010. The 2011 results represent a year-on-year increase of $47.1 million, or 32 percent.

WFS declared a quarterly cash dividend of $0.0375 per share throughout the whole of 2011, 2010, 2009, 2008 and 2007.






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