Skoda will pay dividends of 8.4 billion

The Czech car-maker Skoda Auto will pay its sole stockholder, the German Volkswagen Group, a dividend of 8.4 billion crowns, or more than 430 million U.S. dollars, the Czech company announced on Tuesday. Last year, Skoda Auto's profit reached a record of 11.06 billion crowns (566 U.S. dollars). The car producer, based in Mlada Boleslav, some 50 km Northeast to Prague, sold more than 550.000 cars last year which is 11.7 percent more than in 2005.

Author: Jan Richter