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WPP to increase dividends and restart share buybacks
StockMarketWire.com
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Advertising agency WPP said it intends to increase its dividend each year and restart share buybacks.
Starting from the current year, it said it will grow the dividend annually and to pay out approximately 40% of headline earnings per share.
WPP said that it wants to restart share buybacks funded by the Kantar transaction proceeds in 2021.
The FTSE 100 company also wants to cut costs by £600 million by 2025 as well as spending up to £400 million a year on acquisitions.
Mark Read, chief executive of WPP, said: 'The events of 2020 have only accelerated the structural changes in our industry, from the expansion of digital channels to growing demand for ecommerce solutions. The actions that we have taken have positioned us well, and we are already working with 76 of our top 100 clients on ecommerce.
'There are significant new growth opportunities for WPP as clients demand simple, integrated solutions that combine creativity with technology and data expertise. Clients need trusted partners more than ever to help them transform and succeed.'
At 9:40am: (LON:WPP) Wpp PLC share price was 0p at 724.6p
Story provided by StockMarketWire.com
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