ABF to return £448m to shareholders
ASSOCIATED British Foods (ABF) has proposed to return £448 million to shareholders through a special dividend.
The move is seen as a radical change of policy for the group, whose activities embrace Kingsmill bread, Silver Spoon sugar and Twinings tea.
The group has accumulated £1.5 billion in anticipation of business acquisitions, but feels the prices of larger listed food companies are too high to return more money.
ABF announced a pre-tax profit for the first half of £109m after a £74m charge following the adoption of a new accountancy standard.
- Associated British Foods expects modest advance, FWi, yesterday (19 April, 1999)
- Times profiles boring ABF, FWi, 29 March, 1999
- The Times 20/04/02/99 page 32 (Tempus)
- The Independent 20/04/02/99 page 19
- Financial Times 20/04/99 page 19 (Observer), page 20 (Lex), 21
- The Guardian 20/04/99 page 19
- The Daily Telegraph 20/04/99 page 28, page 28 (Questor)