Paddy Power payout to be a one-off
The betting and gaming giant’s planned €392m cash return to shareholders was approved at its agm yesterday. When the company’s normal annual dividend is included, investors are sharing a windfall of €442m on the back of last year’s performance.
Davy Stockbrokers last month suggested that Paddy Power’s cash returns to shareholders could reach €800m over the next couple of years — via ordinary and special dividends — as it rows back from acquisition spend and grows more organically.
