Wed 7 Sep 2011 05:53

WFS cash dividend unchanged


Quarterly cash dividend follows 36 percent rise in second 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 October 7, 2011 to shareholders of record on September 16, 2011.

Net income during the three months to June 30th 2011 was $50.2 million, or $0.70 diluted earnings per common share, compared to $37.0 million, or $0.61 diluted earnings per common share, in the second quarter of 2010.

The company's marine segment generated a gross profit of $50.7 million in the second quarter of this year, representing an increase of $10.5 million, or 26 percent sequentially, and a rise of $7.5 million, or 17 percent, from last year's results.

In March 2010, June 2010, September 2010, December 2010, March 2011 and June 2011, WFS also declared a quarterly cash dividend of $0.0375 per share.
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