Tesco could pay special dividend on Asian exit

Bloomberg

Tesco Plc analysts see the potential for a special dividend after the UK supermarket chain confirmed it’s carrying out a strategic review of its operations in Thailand and Malaysia.
The Asian assets could be worth as much as 9.5 billion pounds, which would hypothetically equate to a special dividend of up to 100 pence a share when adjusting for earnings revisions, according to analysts at Citigroup Inc. Tesco said it had received “inbound interest” in the units and Shore sees family office and private equity investors in Asia as possible suitors.
Shares in Tesco rose as much as 5.9% on Monday, leading the Stoxx 600 Retail Index higher. The company is up 28% in London trading, outperforming supermarket peers J Sainsbury and Wm Morrison Supermarkets.

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