Greek retailer Jumbo ups dividend payout by 20%

ATHENS, Oct 15 (Reuters) - Greek retailer Jumbo said on Tuesday it increased its dividend payout by 20% for its fiscal year that ended in June and will continue doing so for the next two years.

Jumbo will pay a total dividend of 0.47 euros a share for the 12 months to end-June, up from 0.39 euros in the respective period a year ago.

The retailer, which has 52 stores in Grece and another 27 in Romania, Bulgaria and Cyprus, said net profit came in at 162.9 million euros ($179.27 million), up 7.8% year-on-year.

Sales for the first three months of the current fiscal year to end June 2020 rose 8.2%, beating Jumbo’s forecasts for a 5% rise for the full year.

Business in Romania has been growing rapidly in recent years. Jumbo said it will open two new outlets in Romania and another two in Greece and Cyprus by next year. ($1 = 0.9087 euros) (Reporting by Angeliki Koutantou)