First Group announces
new dividend policy
First Group dividend intentions going forward
In May, 2010, First Group announced its intention to increase its dividend by 7% a year for the next three years, as follows:
FIRST GROUP PLC
PRELIMINARY RESULTS
FOR THE YEAR TO 31 MARCH 2010
. . . .
"We have set out our clear priorities to increase net cash generation and reduce net debt. We have increased the Group's net cash generation target to £ 150m for 2010/11. The continued strong cash generation supports our objectives of targeted capital investment, accelerating our deleveraging plans and
delivering sustained real dividend growth for investors.
"Looking ahead the Board is confident of the inherent strength and resilience of the Group, an expected return to earnings growth and strong cash generation supports the Board's commitment to dividend growth of at least 7% per annum
over the next three years.
"We have established leading positions and critical mass in all our core markets and believe that each of our businesses has significant potential for long-term growth. The actions we have taken have created a stronger, more efficient base and will ensure that the Group is well placed to continue to deliver long term value for shareholders."
. . . .
Return to Rising Dividends for announcements from other companies with an amended dividend policy.
WE WOULD LIKE TO POINT OUT, THAT:
1.√the above mentioned announcement is an abridged version of the full announcement which can be found HERE
2.√the above mentioned announcement is solely used as an example of a UK listed company's future dividend intentions and is not a share recommendation
3.√the price of shares and investments and the income derived from them can go down as well as up, and investors may not get back the amount they invested
4.√where the information consists of pricing or performance data, the data contained therein has been obtained from company reports, financial reporting services, periodicals, and other sources believed reliable
5.√data computations are not guaranteed by Early Retirement Investor.com or any of the data providers and may not be complete.
6.√The editor or contributors may have an interest in the share mentioned.
7.√Dividend yields move up and down. As a company’s share price increases the dividend yield falls. And vice versa: if the share price falls the dividend yield increases.
Return to Rising Dividends for announcements from other companies with an amended dividend policy.
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