Smurfit Kappa said that it plans to hike its dividend payment by 7 per cent to 80.9c per share, as the cardboard box maker reported solid earnings growth for 2019 and said that the current year has “started well”. Earnings before interest, tax, depreciation and amortisation (ebitda) rose by 7 per cent to a record €1.65 billion, far outpacing a 1 per cent increase in sales to €9.05 billion. European projects“Our three main countries of Colombia, Mexico and the US had strong financial performances with demand in Colombia particularly strong,” Smurfit Kappa said of its performance in the region. Smurfit Kappa said it will complete a number of major European paper projects this year and continue to invest in its corrugated division “to capitalise on the many opportunities and secular trends”. The company reiterated on Wednesday that it plans to appeal the decision “on both administrative and substantive grounds”.
Source: The Irish Times February 05, 2020 07:30 UTC