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PARIS, April 29 French media group Lagardere
will pay a special dividend of 9 euros ($11.79) per
share linked to the sale of its stake in aerospace group
European Aeronautic Defense and Space.
Lagardere raised 2.3 billion euros earlier this month from
the stake sale, which kicked off a long-expected overhaul in the
ownership of Airbus parent EADS.
The special dividend payout date will be May 31 and the
ex-coupon date is May 28, Lagardere said in a statement on
Monday. The dividend will be put to shareholder approval in
2014, it said.
Aside from returning cash to shareholders, Lagardere has
also said it will use the sale proceeds to pay down debt.
Lagardere is also due to pay an ordinary dividend of 1.30
euros per share this year, unchanged from the previous year.
Shares of Lagardere are up almost 40 percent since November
lows. The sale of its EADS stake, along with a planned exit of
pay-TV unit Canal+ that is tangled up in a legal dispute with
Vivendi, had been promised to investors for several
($1 = 0.7634 euros)
(Reporting by Lionel Laurent; Editing by Christian Plumb)