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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

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



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Updated on 07 Mar 2012 06:51 GMT

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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