Seven Group shares rise on 30% dividend hike
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More news: Shares in Seven Group lifted after the investment conglomerate declared a 30% year-on-year uplift to its final year dividend.
Seven shares were up 2.5% to $35.87 by 12:25pm AEST.
Seven Group lifts final dividend by 30%
The news: Seven Group has declared a final dividend of 30 cents per share, representing a 30% uplift on the previous year's payout.
The numbers: The decision means total dividends payable on ordinary shares for the year to June 2024 of 53 cents per share.
Seven shares have gained over 47% in the last 12 months, last closing at $35.01.
The context: Seven said the final dividend satisfied the commitment made by the company in April to pay a post-transaction dividend, as part of its acquisition of construction group Boral.
In February, the Stokes family controlled investment conglomerate upgraded its full-year earnings guidance, buoyed by a 28% rise in overall first-half earnings. It had announced a fully franked interim dividend of 23 cents per share, unchanged from the previous year.
The source: ASX announcement
