Paddy Power Announces €800 Million Capital Return Plan

Sat, Apr 11, 2015

Paddy Power has announced a program to return possibly more than €800 million in surplus cash to its shareholders. The capital return plan will begin with €382 million in returned payments. The company said the program is being implemented because it has no investments plans for its surplus cash.

Paddy Power shareholders could receive more than 800 million pounds in returned capital the company has announced.

Paddy Power says that it has no current capital investment plans for its surplus cash and it will be returned to shareholders through a capital return plan. An initial 382 million pound return is scheduled for this month.

The return of the €382 million is about 12 percent of the current market value of the company. The total surplus dividend shareholders could receive is close to €800 million.

Paddy Power’s Senior Management said the repayments will not compromise the company’s future growth strategies, and that forecasts for the company suggests it raise its debt by the end of 2016 to meet its target levels of repayment.

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