EasyJet agrees hefty pay-out to shareholders
Posted 24/09/2011
EasyJet founder Sir Stelios Haji-Ioannou has dropped his call for an extraordinary shareholder meeting to oust a non-executive from the Board after the airline yesterday agreed to his demand for a hefty pay-out.
The airline announced that it would pay a special one-off dividend of £150 million on top of its first ordinary dividend this year of £40 million.
In a statement to the London Stock Exchange, it said it welcomed Sir Stelio's decision to drop his demands for an EGM as it viewed this as "an unnecessary and costly distraction”.
Sir Stelios had called for the shareholder meeting to oust non-executive Rigas Doganis who backed the airline’s purchase of 35 new aircraft earlier in the face of Sir Stelio's desire for the airline to return cash to shareholders rather than expand its fleet.
The meeting was due to have taken place next month.
By Linsey McNeill
Originally published 24 Sep 2011 at: http://rss.feedsportal.com/c/398/f/5923/s/18d00237/l/0L0Stravelmole0N0Cstories0C114950A20Bphp0Dmpnlog0F1/story01.htm
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