Awwal 21, 1432 H/Feb 24, 2011, SPA -- The world's biggest chemicals group, BASF of Germany, posted record revenues and profits Thursday for 2010 and said it expected to exceed both figures in the current year, according to dpa. It also reassured investors, proposing a bigger dividend payout for 2010 of 2.20 euros, a year after it shocked them with a rare cutback in the dividend to just 1.40 euros after sales had sagged. "This year began very well for BASF," said chief executive Juergen Hambrecht in a news release. "We're optimistic overall for both the first quarter and the year as a whole." Earnings before interest, taxes and special items doubled last year to 8.14 billion euros (11.1 billion dollars). Sales picked up by one quarter to 63.87 billion euros. On the Frankfurt Stock Exchange, BASF shares rose against the market on the news, gaining 0.4 per cent to 58.97 euros as of late morning.
