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

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