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Iceland to pay dividend

This article was originally published in Foodnews

ICELAND Foods, is set to pay a GBP100 million (USD162 million) dividend to its management team and the collapsed Icelandic banks that own the frozen foods retailer. Malcolm Walker, the supermarket's founder and chief executive, owns around 24% of the chain while Glitnir and Landsbanki, two of the collapsed Icelandic banks, own about 67%. After paying off its debt last year, Iceland is experiencing a resurgence and expects to lift EBITDA (earnings before interest, tax, depreciation and amortisation) to close to GBP190 million for the year to 31 March from about GBP180 million in the same period a year earlier.

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