easyJet to return record profits to shareholders

easyJet to return record profits to shareholders

Low-cost carried easyJet has seen its share price rise by more than six per cent in trading this morning after it unveiled record profits and plans for a special dividend.

The Luton-based carrier said it would return £175 million to shareholders as part of a one off special dividend, after revealing profits to the end of September 2013 rose 51 per cent to £478 million.

easyJet chief executive Carolyn McCall said: “easyJet has delivered a strong full-year performance and made significant progress against executing its strategic priorities.

“As evidence of our continued confidence in the future prospects of the business the board has recommended to return £308 million to shareholders through the combination of an ordinary and special dividend.”

The board is recommending a return to shareholders of £175m which will be in the form of a special dividend of 44.1 pence a share and is subject to shareholder approval at AGM on February 13th 2014.

This is in addition to the regular ordinary dividend of £133 million or 33.5 pence a share based on its existing policy of paying out one third of annual profit after tax.