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Royal Mail to pay one-off special dividend
StockMarketWire.com
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Delivery group Royal Mail said it would pay a one-off dividend, having reviewed its performance over the past year.
The payout of 10p per share would be payable on 6 September to shareholders on the register at 30 July 2021.
Royal Mail said it would announce a new dividend policy with its annual results on 20 May.
The company also said its GLS international logistics unit was expected to more than double its operating profit to €500 million over five years.
The company made the forecast ahead of businesses update about GLS, to be delivered by its key executives.
From the 2020 financial year to the 2025 financial year, GLS also was expected to grow revenue at a compound annual growth rate of around 12%, from €3.61 billion.
In addition, it was expected to generate €1 billion of free cash flow.
Capex over the period was expected to remain in the range of 3-4% of revenue.
For the 2021 financial year, GLS's adjusted operating profit was expected to be around £350 million (€390 million) with an adjusted operating profit margin around 8.7%.
Across its broader business, Royal Mail said it still expected its adjusted operating profit for the 2021 financial year to be around £700 million.
Story provided by StockMarketWire.com
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