Paddy Power shareholders to land €392m

Betting giant Paddy Power plans to return €392m to shareholders this year as it looks to cater for surplus cash in the face of a lack of attractive acquisition and investment opportunities.

The company will make the €8-per-share payment in addition to a total dividend for last year of 152c per share, up 13% on the previous year.

The firm reported a record set of annual results for 2014. Shareholders will vote on the capital return plan at the company’s AGM in May.