In its recent trading statement Arbuthnot Banking Group (ABG) advised it would make a special dividend of 300p per share (cost £45m) in Q416 against our forecast 150p. Additionally, it has accelerated its expansion into commercial banking and expects to hire six additional experienced staff early in 2017 as well as opening a Manchester office. It also advised that Q316 drawdowns had been a little slower than expected. The overall effect is to see a reduction in 2016/2017 earnings estima
17 Oct 2016
Big special dividend, accelerated investment
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Big special dividend, accelerated investment
Arbuthnot Banking Group PLC (ARBB:LON) | 1,060 0 0.0% | Mkt Cap: 173.2m
- Published:
17 Oct 2016 -
Author:
Mark Thomas -
Pages:
8
In its recent trading statement Arbuthnot Banking Group (ABG) advised it would make a special dividend of 300p per share (cost £45m) in Q416 against our forecast 150p. Additionally, it has accelerated its expansion into commercial banking and expects to hire six additional experienced staff early in 2017 as well as opening a Manchester office. It also advised that Q316 drawdowns had been a little slower than expected. The overall effect is to see a reduction in 2016/2017 earnings estima