Underlying Scope Revenue year to date in line with expectations, Ongoing weak markets: H2 margins now expected to be below H1, New group cost savings target increased by $55m to $180m (Au120m) by 2017, Renewed focus on improving performance in, or exiting, low growth areas, Reducing ordinary dividend
Investors were disappointed as management did not announce a return of cash to shareholders outside of the ordinary dividend
(consensus was for a share buyback of around $3bn).
The firm is paying a dividend of JPY25 per share, including an ordinary dividend
of JPY15 and a special dividend of JPY10 per share.
The insurance giant said the final ordinary dividend
Aer Lingus, which has not made any form of distribution to shareholders since its stock market listing in 2006, said yesterday it intends to declare an ordinary dividend
of three cents per share, to be paid in July.
The total dividends are composed of an ordinary dividend
of HKD2,300m and a special dividend of HKD2,200m.
Group chairman Vic Cocker announced the one-off payout, which comes on top of a final ordinary dividend
of 7p, at the company's annual meeting yesterday.
From this new base, we intend to pursue a progressive ordinary dividend
policy that broadly reflects the growth in the group's earnings per share over the medium term.
The Board of Directors, however, has decided to pay a commemorative dividend for our 25th fiscal year (\30) in addition to the ordinary dividend
, in view of our recent financial condition, and in appreciation of our shareholders' ongoing support.
This means there are more earnings and profits that (under Section 1248 for a CFC) convert a seller's gain to ordinary dividend
That's on top of the ordinary dividend
payout of 13p for the year.
One of the more pernicious threats faced by closely held corporation shareholders is the prospect of "constructive" distributions, taxed as ordinary dividend
income to the extent of available earnings and profits, for transactions in which the shareholder benefits from a corporate action.