February 14, 2018 / 7:41 AM / 4 months ago

BRIEF-GKN Says Board Targeting Up To £2.5 Bnl Cash Return To Shareholders Over Next Three Years​

* ‍BOARD EXPECTS PROJECT BOOST TO DELIVER A RECURRING ANNUAL CASH BENEFIT OF £340M FROM END OF 2020​

* ‍BOARD IS TARGETING UP TO £2.5BN CASH RETURN TO SHAREHOLDERS OVER NEXT THREE YEARS​

* ‍EXPECTS TO DISTRIBUTE SURPLUS CASH TO SHAREHOLDERS, SUBJECT TO MAINTAINING AN INVESTMENT GRADE CREDIT RATING​

* PROGRESSIVE DIVIDEND POLICY WILL BE TO TARGET AN AVERAGE PAYOUT OF 50% OF FREE CASH FLOW OVER PERIOD OF 2018-2020​

* “‍EXPECTS THAT SHAREHOLDER VALUE WILL BE FURTHER UNLOCKED THROUGH SALE OF POWDER METALLURGY”​

* ‍EXPECTED TAX RATE REDUCTIONS IN KEY TERRITORIES SHOULD PROVIDE SIGNIFICANT TAX TAILWINDS TO GROUP​

* LONG-TERM GROUP BOOKED TAX RATE IS EXPECTED TO REDUCE BY 4% TO AROUND 20% Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below