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Good Start of the Year for Accell Group

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HEERENVEEN, Netherlands (April 26) – Sales by Accell Group to bicycle retailers during the first several months of 2005 are going well, as recently reported at the General Meeting of Shareholders. René Takens, Chairman of the Executive Board of Accell Group stated: “This year has proved once again that our customers think highly of the […]

HEERENVEEN, Netherlands (April 26) – Sales by Accell Group to bicycle retailers during the first several months of 2005 are going well, as recently reported at the General Meeting of Shareholders. René Takens, Chairman of the Executive Board of Accell Group stated: “This year has proved once again that our customers think highly of the new bicycle models. Poor weather circumstances in March made for a slow start of the retail season, but with the turnaround in the weather in recent weeks, sales are off and running. Prospects for the full year look good. We expect to realize a growth in sales and earnings per share again this year.”
The General Meeting of Shareholders approved the proposal to distribute a dividend of € 0.72, payable either in cash or shares. The choice of a stock dividend actually involves a benefit of 2-4%. The payout ratio comes to 47.4% and the cash dividend yield to 4.6%, based on the closing share price for the year 2004. Accell Group will publish its results for the first half of 2005 pre-trading on 21 July 2005. (MH)

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