easyJet to propose 21.5p per share dividend during AGM

Sir Michael Rake, Chairman of easyJet, is expected to propose a dividend of 21.5p per share to be paid in respect of the financial year ending September 30th in an annual general meeting on Thursday.

Sir Michael Rake, Chairman of easyJet, is expected to propose a dividend of 21.5p per share to be paid in respect of the financial year ending September 30th in an annual general meeting on Thursday.

A curtainraiser preview of the Chairman's speech, issued ahead of the meeting by easyJet, indicated that strong growth results for the low-cost airline.

"Since the last annual general meeting, easyJet has gone from strength to strength and has delivered total shareholder return of 125% through a combination of share price appreciation and the payment of £196m in ordinary and special dividends," Sir Michael is expected to say.

"In the 2012 financial year, profit after tax grew by 13% to £255m and due to the strength of this performance and outlook for sustainable growth and returns the board has increased the level of ordinary dividend paid annually from a ratio of five times cover to three times cover.

"Consequently, subject to your approval today, a dividend of 21.5p per share will be paid in respect of the financial year ending September 30th 2012."

easyJet's share price was down 1.18% to 1,003p at 10:16.

MF

Recommended

Three top-notch Asian stocks to buy
Share tips

Three top-notch Asian stocks to buy

Professional investors Adrian Lim and Pruksa Iamthongthong, managers of the Asia Dragon Trust, pick three of their favourite Asian stocks to buy now.
23 Sep 2022
Why you should short this satellite broadband company
Trading

Why you should short this satellite broadband company

With an ill-considered business plan, satellite broadband company AST SpaceMobile is doomed to failure, says Matthew Partridge. Here's how to short th…
23 Sep 2022
Share tips of the week – 23 September
Share tips

Share tips of the week – 23 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
23 Sep 2022
Momentum investing – and why price matters more than anything else
Investment strategy

Momentum investing – and why price matters more than anything else

The recent fashion for momentum investing, with investors piling into expensive growth stocks, is nothing new, says Merryn Somerset Webb. And the dang…
21 Sep 2022

Most Popular

Could gold be the basis for a new global currency?
Gold

Could gold be the basis for a new global currency?

Gold has always been the most reliable form of money. Now collaboration between China and Russia could lead to a new gold-backed means of exchange – g…
22 Sep 2022
Share tips of the week – 23 September
Share tips

Share tips of the week – 23 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
23 Sep 2022
Paypal, bitcoin, and the weaponisation of money
Bitcoin & crypto

Paypal, bitcoin, and the weaponisation of money

Recent events have shown how both business and governments can “weaponise” money and shut down dissent. What to do? Buy bitcoin, says Dominic Frisby.
22 Sep 2022