Business Irish

Tuesday 25 April 2017

Aer Lingus’ new owner IAG to pay first ever dividend in December

International Airlines Group (IAG) is due to announce profits for the third quarter of its financial year on Friday
International Airlines Group (IAG) is due to announce profits for the third quarter of its financial year on Friday
Donal O'Donovan

Donal O'Donovan

Aer Lingus’ new owner will pay its first ever dividend in December, the company said today.

International Airlines Group (IAG), which also owns British Airways and Spain’s Iberia is due to announce profits for the third quarter of its financial year on Friday.

Those figures will be the first to include revenue and profit from Aer Lingus, which it bought in a deal that closed six weeks ago.

The decision to announce the 10 cent a share dividend ahead of the results is seen as an indicator that IAG boss Willie Walsh will announce a strong set of numbers on Friday.

Read more: IAG/Aer Lingus to launch wifi on short-haul flights - Willie Walsh

“We're delighted to announce IAG's first dividend payment of 10 euro cents per share. For the full year we expect to pay out 25pc of our underlying profit after tax in dividends and plan to announce a proposal for a final dividend for 2015 when the full year results are published,” Willie Walsh said.

Shareholders in IAG have not received a dividend since the group was formed in 2011 from a merger of Iberia and British Airways.Sahres in the airline group are down 2.46pc today at 595 pence each in London following the announcement.

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