Wednesday, August 8, 2007

DaimlerChrysler reiterates previous stance on what to do with excess liquidity

AFX News Limited

08.08.07, 7:10 AM ET

FRANKFURT (Thomson Financial) - DaimlerChrysler AG reiterated its previous comment that it will make a decision by February 2008 at the latest on what it would do with its excess liquidity.

'We have been saying this since May, after we announced the deal to sell our 80 pct stake in Chrysler, that we will make a decision in February 2008 at the latest on what we will do with our excess liquidity. In any case we will take into consideration the interests of our shareholders' a company spokesman said.

The spokesman made the comment in reaction to market rumours that the company would scrap its dividend payments for the business year 2007.

Analysts have said the company's excess liquidity could be used either to make a special dividend payment or to buy back shares

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