RE: 130 Test12 Jan 2024 21:20
Buy low sell higher - opportunities arise frequently - plenty of moves between now and the 29th Feb (a leap day - how apt)
Will we get a dividend return or a signal...
from the half year
8. Dividends
The Directors propose that no dividend be paid for the six months to June 30, 2023 (June 30, 2022: nil).
The future dividend capacity of the Group is dependent on the liquidity requirements and the distributable reserves of the Group's main operating companies and their capacity to pay dividends to the Company, together with the Company's distributable reserves and liquidity.
Certain debt obligations place restrictions or conditions on the payment of dividends from the Group's main operating companies to the Company, including a loan to British Airways partially guaranteed by UKEF and loans to Iberia and Vueling partially guaranteed by the Instituto de Crédito Oficial (ICO) in Spain; these loans can be repaid early without penalty at the election of each company. British Airways agreed with the Trustee of its main UK defined benefit pension scheme (NAPS) as part of the triennial valuation as at March 31, 2021 that, subject to the over-funding protection mechanism, no dividends will be paid to IAG before December 31, 2023 and that any dividends paid to IAG from January 1, 2024 through to September 30, 2025, will trigger a pension contribution of 50 per cent of the amount of the dividend. Further information on the British Airways dividend restrictions agreed with NAPS are given in note 32a of the 2022 Annual report and accounts.
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