Debenhams acquisitions not off table despite reinstated dividend payments

DEBENHAMS, Britain’s number two department store group, said a plan to reinstate its dividend in 2011 did not mean acquisitions were off the table as the firm posted an expected 21% rise in full-year profit.

The retailer, which trades from 167 stores in Britain, Ireland and Denmark, and 60 franchised outlets in 23 countries, said on Thursday it expected to resume dividend payments in April.

“Because we pay a dividend doesn’t rule out (acquisitions)...We still would have firepower if we wanted to look at other things. The free cash flow is incredibly strong,” chief executive Rob Templeman told reporters.