Ryanair shareholders to receive €1bn in dividends
Ryanair said it will return €1bn to shareholders over the next two years.
Ryanair plans to repurchase at least €400m of stock in the current fiscal year through March 2014, with as much as €600m to be paid out in the following 12 months in further buybacks or a special dividend. The second part of the payout is subject to recent fuel, yield and profitability trends continuing, it said.
Ryanair boss Michael O’Leary wants to accelerate the carrier’s annual traffic growth to 7pc over coming years from 5pc. That will take the passenger total to €110m by fiscal 2019, €10m more than previously targeted, according to the company, which is briefing investors in London.
The shares rose as much as 5.1pc, the biggest intraday increase since May 20 giving the company a market value of €10.3bn.
Ryanair said yesterday a team that it set up to evaluate Boeing’s 737 Max model will report back by the end of September, paving the way for an order that might run to more than 200 of the narrow-body planes