{"id":7772,"date":"2012-02-08T13:49:55","date_gmt":"2012-02-08T11:49:55","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/update-1-smurfit-kappa-looks-to-reinstates-dividend-as-outlook-improves\/"},"modified":"2012-02-08T13:49:55","modified_gmt":"2012-02-08T11:49:55","slug":"update-1-smurfit-kappa-looks-to-reinstates-dividend-as-outlook-improves","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-smurfit-kappa-looks-to-reinstates-dividend-as-outlook-improves\/","title":{"rendered":"UPDATE 1-Smurfit Kappa looks to reinstates dividend as outlook improves"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* FY EBITDA up 12 pct to 1.02 bln eur, in line with views<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Net debt lowered by 358 mln eur to 2.75 bln<\/p>\n<p><span><\/span><\/p>\n<p>* Proposes final div of 15 cent<\/p>\n<p><span><\/span><\/p>\n<p>LONDON, Feb 8 (Reuters) &#8211; Irish packaging group<br \/>\nSmurfit Kappa unveiled plans to reinstate its dividend<br \/>\non Wednesday after a two-year hiatus,  triggered by a more<br \/>\npositive outlook and full-year results hitting targets.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We&#8217;re reinstating that dividend as promised at the first<br \/>\nopportunity when &#8230; the business is strong enough and the<br \/>\noutlook good enough to be able to sustain dividends on a<br \/>\nprogressive basis,&#8221; Smurfit Chief Executive Gary McGann told<br \/>\nReuters in an interview.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We&#8217;re stating very clearly that we now have the confidence<br \/>\nto reinstate it,&#8221;  he added. The group set its payout at 15<br \/>\neuros cents a share.<\/p>\n<p><span><\/span><\/p>\n<p>Europe&#8217;s leading containerboard and corrugated packaging<br \/>\nproducer cancelled its dividend in 2009 as it headed into a<br \/>\ndifficult economic environment while saddled with debt.<\/p>\n<p><span><\/span><\/p>\n<p>The Dublin-based company said earnings before interest, tax,<br \/>\ndepreciation and amortisation (EBITDA) rose 12 percent to 1.02<br \/>\nbillion euros ($1.3 billion) in 2011, in line with expectations.<\/p>\n<p><span><\/span><\/p>\n<p>Fourth-quarter EBITDA slipped 5 percent year-on-year to 245<br \/>\nmillion euros, slightly above a consensus of analyst forecasts.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* FY EBITDA up 12 pct to 1.02 bln eur, in line with views * Net debt lowered by 358 mln eur to 2.75 bln * Proposes final div of 15 cent LONDON, Feb 8 (Reuters) &#8211; Irish packaging group Smurfit Kappa unveiled plans to reinstate its dividend on Wednesday after a two-year hiatus, triggered [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-7772","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7772","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=7772"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7772\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7772"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}