UK green light to restore pre-COVID dividend and unveils strategy By Reuters

© Reuters. FILE PHOTO: A Go-Ahead bus crosses Westminster Bridge in London, Britain August 29, 2015. REUTERS/Neil Hall/

(Reuters) – British transport operator Go-Ahead said on Tuesday it would reinstate its pre-COVID-19 dividend policy from financial year 2022 and unveiled plans to expand operations following the conclusion of a a multi-month business review.

The group said its new strategy includes turning around underperforming operating companies, growing in existing markets, exploring acquisitions, and finding new modes of urban transit such as metro and rail. Light Rail.

The company will also begin paying between 50% and 75% of underlying earnings per share as a dividend to shareholders this year.

“Transportation is at a tipping point as we recover from the pandemic,” said chief executive Christian Schreyer, who began the review after his appointment in November last year.

The new strategy comes after Go-Ahead was fined £23.5m ($30.83m) last month by the Department for Transport (DfT) after admitting financial errors from its London rail franchise and from the southeast, LSER, having led him to overload the transport of the country. department in multi-year contracts.

The group also said it was aiming for an operating profit of at least 150 million pounds ($196.92 million) and an increase in annual turnover to around four billion pounds, up from around 30% in the medium term.

($1 = 0.7617 pounds)

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