Confident IHG hikes divi
InterContinental Hotels Group has whacked up the full year dividend by after it continued to outperform the hotel industry in key markets such as the US and Greater China in 2011.
InterContinental Hotels Group has whacked up the full year dividend by after it continued to outperform the hotel industry in key markets such as the US and Greater China in 2011.
Revenue in 2011 rose 9%, or 7% on a constant exchange rates (CER) basis, to $1,768m from $1,628m in 2010, ahead of market expectations of $1,761m. Operating profit surged 26% (CER:25%) to $559m from $444m the year before, and underlying earnings per share rose 32% to 130.4 cents from 2010's 98.6 cents.
Net debt at the end of 2011 had fallen to $538m from $743m a year earlier. The full year dividend has been hiked by 15% to 55 cents from 48 cents; broker Panmure Gordon had predicted a 2011 pay-out of 50.4 cents.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
More to follow ...
jh
-
-
MoneyWeek Interviews: Ed Wielechowski portfolio manager of the Odyssean Investment Trust
Ed Wielechowski portfolio manager of the Odyssean Investment Trust talks to Rupert Hargreaves.
By Rupert Hargreaves Published
-
Pension savers turn to gold investments
Investors are racing to buy gold to protect their pensions from a stock market correction and high inflation, experts say
By Ruth Emery Published