Hermes gives back some cash it gets from US$10,000 handbags

HERMES International, flush with cash from surging sales of US$10,000 handbags, is giving a chunk of it back to shareholders.

The French luxury-goods house said Wednesday it will pay an annual dividend of 4.10 euros a share along with a special payout of five euros a share. Hermes’s cash holdings reached almost three billion euros (US$3.7bil) as of Dec 31.