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UPDATE 1-Betsson sets new dividend policy to boost acquisition war chest
March 31, 2017 / 11:58 AM / 9 months ago

UPDATE 1-Betsson sets new dividend policy to boost acquisition war chest

(Adds shares, details)

March 31 (Reuters) - Online betting firm Betsson said on Friday it was lowering its targeted dividend payout ratio to boost its ability to make acquisitions, sending shares lower.

* Betsson said in a statement its new policy, in effect as of 2017, was an ambition to distribute up to 50 pct of net earnings.

* Earlier policy stated an ambition to distribute up to 75 percent of income after tax to shareholders.

* Betsson said decision to change dividend policy in order to increase company’s financial capabilities to be active in consolidation of gaming industry.

* Betsson shares down 2.5 pct at 1155 GMT vs a 1.3 pct rise ahead of the news.

* “The new dividend policy gives Betsson increased capabilities to make acquisitions, which the Board believes will add long-term value to shareholders,” Betsson Chairman Pontus Lindwall said in a statement. Source text for Eikon: (Reporting by Johannes Hellstrom, editing by Terje Solsvik)

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