Concentric AB: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
Provider: Wright Reports
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Concentric AB Proposes FY 2011 Dividend Payment of SEK 2.00 Per Share; Announces Changes in Accounting Principles from FY 2013
Concentric AB announced that the Board of Directors has decided to propose at the Annual General Meeting a dividend of SEK 2.00 per share for the 2011 fiscal year, corresponding to approximately 50% of earnings per share. The Company has also announced that from the fiscal year 2013 new accounting principles will be adopted. Assuming the proposed amendments to IAS 19, Employee benefits, are endorsed by the European Union, as expected in the first quarter of 2012, this new standard will become effective as of January 1, 2013. The Company uses the 'corridor method' of accounting, whereby unrecognized losses over the corridor of 10% are amortized in the income statement. As on December 31, 2011 the Company had unrecognized pension liabilities of SEK 419 million. The amended standard removes the option to use the corridor method and, as such, actuarial gains and losses will be recognized in full through the comprehensive income statement. Accordingly, the previously unrecognized pension liabilities will be recorded on the Company's balance sheet, together with a corresponding deferred tax asset. In addition, the service cost and net interest recognized in the profit and loss account will also be affected by the proposed changes.
Latest Developments for Concentric AB
- Concentric AB Opens European Hydraulics Centre in Hof, Bavaria and Completes Transferring All Production Lines into New Facility
- Concentric AB Completes Acquisition Of Licos Trucktec GmbH
- Concentric AB Transfers Own Shares as Consideration for LICOS Trucktec GmbH
- Concentric AB Agrees to Acquire Licos Trucktec GmbH
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