February 21, 2018 / 8:07 AM / a month ago

Glanbia announces plans to increase dividend payments

DUBLIN, Feb 21 (Reuters) - Irish nutrition company Glanbia on Wednesday announced plans to “materially increase” its dividend policy, with a target of paying between 25 and 35 percent of adjusted earnings per share.

The company plans to pay out 22 cents per share for 2017, an increase of 65 percent on the previous year, the company said in a statement.

“This is a sign of the strength of our balance sheet,” Finance Director Mark Garvey told Reuters in an interview.

Glanbia’s earnings per share rose 10.2 percent in 2017. This will slow to between 5 and 8 percent in 2018, it said, as weak dairy prices and investments affect performance in the first half of the year. (Reporting by Conor Humphries; editing by Jason Neely)

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