CNH GLOBAL BOARD RECOMMENDS DOUBLING ANNUAL CASH DIVIDEND
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BURR RIDGE, Illinois - (February 22, 2008) - The Board of Directors of CNH Global N.V. (NYSE:CNH) has recommended a doubling of its annual cash dividend to $0.50 per common share for the year 2007 from the $0.25 per share paid annually for the past five years. Payment of the dividend is subject to approval at the Annual General Meeting of shareholders, which will be held on March 20, 2008 at the company's registered offices in Amsterdam, The Netherlands.
"2007 was a record year for CNH and our excellent sales growth, profitability improvements and solid cash flow generation in 2007 have put CNH in a strong position, setting the stage for accomplishing our 2010 objectives," said Sergio Marchionne, CNH's Chairman of the Board. "Our increase in the dividend is a signal of our faith in the future and to reward the commitment of our employees, dealers, customers and other shareholders whose hard work has brought us to this next level of achievement."
If approved, the dividend will be payable on April 15, 2008 to shareholders of record at the close of business on April 4, 2008.
CNH Global N.V. is a world leader in the agricultural and construction equipment businesses. Supported by about 11,500 dealers in 160 countries, CNH brings together the knowledge and heritage of its Case and New Holland brand families with the strength and resources of its worldwide commercial, industrial, product support and finance organizations. CNH Global N.V., whose stock is listed at the New York Stock Exchange (NYSE:CNH), is a majority-owned subsidiary of Fiat S.p.A. (FIA.MI). More information about CNH and its Case and New Holland products can be found online at www.cnh.com.