HeidelbergCement announce new business plan
Published by Joseph Green,
Editor
World Cement,
HeidelbergCement has announced that it would increase its dividend payout ratio and consider share buybacks.
The announcement comes as the company remains on the peripheral of the mega-merger between rivals Holcim and Lafarge.
The company also revealed a strong commitment to "disciplined growth in attractive markets".
HeidelbergCement in intending on raising its dividend payout ratio to 40-45% by the close of 2019.
The company predicts a cumulative cash flow of approximately €8.8 billion between 2015 and 2019. Of the total, the company intends to invest approximately €2.5 billion in organic growth, utilise €1 billion to keep leverage low and more than €2 billion for dividends.
HeidelbergCement is targeting sales above €17 billion by 2019, an increase of at least 35% over 2014 levels.
Edited from source by Joseph Green. Source: Reuters
Read the article online at: https://www.worldcement.com/europe-cis/10062015/heidelbergcement-announces-new-business-plan-979/
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