Dividend Policy of National Express: The factors affecting Dividend Payment
Dividend Policy
The concept of “dividend policy” means that the Company through the Board of Directors creates a specific dividend payment model for additional actions. In other words, the company’s dividend policy refers to the management’s perceptions and practices related to the dividend distribution in the form of dividend. These can be profits of the current year or accumulated profits from the past. Dividends are paid quarterly, half a year, or a year. When paid in a quarter or a half, they are considered a temporary dividend. Dividends are expressed as a percentage of the nominal value and are called dividend. When the dividend amount is expressed as a percentage of market value, it is called dividend yield, which is expressed as a percentage of profit known as dividend payment. So dividend income is the proportion of dividends per share to market value per share and dividend payment is the proportion of dividend per share of net profit per share. The dividend policy defines the division of income between shareholder income and earnings. This report will focus on the Dividend policy of National Express along with the factors affecting the dividend payment.
Dividend policy can be seen as:
- A) Long term financial decisions
- B) Decided to increase wealth
External factors affect dividends – Dividend policy of National Express
General economic situation:
In the event of poor economic and commercial conditions, the administrator may request to save all or part of the income. Establish a reserve for a future crisis. In management progress, it is not possible to pay dividends because of greater investment opportunities. During inflation, the administrator can maintain many profiles to replace the obsolete engine. Dividend policy of National Express” as agreed in 2015 should cover regular dividends, at least twice per share. Giving this level of dividend must be announced that the board takes time into three major factors account to add to the coverage level: Ports available, Create cash flow this year, Profit and debt with 290 million. Euro reserve for free distribution of cash flows from 146.4 million pounds down to 2.3 times in the line. This Interim dividend, the Board of Directors proposed a 10% increase in 2007. The final dividend to 9.25p to give a dividend for the year of 13.51p to cover 2.2 times.
Business cycle:
The business cycle also affects dividend policy. Dividend policy has been modified for trading changes. During periods of development, prudent measures create a bias towards inflation. High dividends can be used as market instruments for securities on the market. Repayment capacity can be created and maintained by the company during the year when it is tedious to have sufficient reserves. Dividend policy of National Express” as agreed in 2015 should cover regular dividends, at least twice per share. Giving this level of dividend must be announced that the board takes time into three major factors account to add to the coverage level: Ports available, Create cash flow this year, Profit and debt with 290 million. Euro reserve for free distribution of cash flows from 146.4 million pounds down to 2.3 times in the line. This Interim dividend, the Board of Directors proposed a 10% increase in 2007. The final dividend is to 9.25p to give a dividend for the year of 13.51p to cover 2.2 times.
Government policy:
Business profits are strongly affected by changes in the financial sector, industry, industry, and other government policies. Sometimes the government restricts dividing dividends to a certain percentage in an industry or in all sectors that are prepared in a state of emergency. The dividend policy needs to be amended or compiled in these businesses. Dividend policy of National Express” as agreed in 2015 should cover regular dividends, at least twice per share. Giving this level of dividend must be announced that the board takes time into three major factors account to add to the coverage level: Ports available, Create cash flow this year, Profit and debt with 290 million. Euro reserve for free distribution of cash flows from 146.4 million pounds down to 2.3 times in the line. This Interim dividend, the Board of Directors proposed a 10% increase in 2007. The final dividend is to 9.25p to give a dividend for the year of 13.51p to cover 2.2 times.
Tax Policy:
A high tax benefit reduces the company’s income, and thus the number of dividends decreases. In India dividends are not taxed in the hands of investors, but companies must pay dividend tax (distribution tax). Dividend policy of National Express” as agreed in 2015 should cover regular dividends, at least twice per share. Giving this level of dividend must be announced that the board takes time into three major factors account to add to the coverage level: Ports available, Create cash flow this year, Profit and debt with 290 million. Euro reserve for free distribution of cash flows from 146.4 million pounds down to 2.3 times in the line. This Interim dividend, the Board of Directors proposed a 10% increase in 2007. The final dividend is to 9.25p to give a dividend for the year of 13.51p to cover 2.2 times.
Legal Requirements:
When deciding on dividend distribution, the leaders also pay attention to the legal requirements. Protect the interests of the creditor and neighbor. The 1956 Law Office sets out some guidelines for distributing and paying dividends. In addition, companies are required to provide the actual and actual costs of their assets before dividing the dividends of the fund. In any case, he suggested that dividend distribution should not be shared by the fund. Similarly, contractual obligations are also met, for example by dividing dividends on preferred shares with more benefits than dividends. Dividend policy of National Express” as agreed in 2015 should cover regular dividends, at least twice per share. Giving this level of dividend must be announced that the board takes time into three major factors account to add to the coverage level: Ports available, Create cash flow this year, Profit and debt with 290 million. Euro reserve for free distribution of cash flows from 146.4 million pounds down to 2.3 times in the line. This Interim dividend, the Board of Directors proposed a 10% increase in 2007. The final dividend is to 9.25p to give a dividend for the year of 13.51p to cover 2.2 times.
Internal factors affect dividends – Dividend policy of National Express
Nature of Business:
Business features are important for dividend policy. An industry unit that shows stable income can create a more stable dividend policy than those with unfair income because they can easily guess their savings and profits. Companies that respond to demand are usually less productive than those who sell large goods or large commodities. Dividend policy of National Express” as agreed in 2015 should cover regular dividends, at least twice per share. Giving this level of dividend must be announced that the board takes time into three major factors account to add to the coverage level: Ports available, Create cash flow this year, Profit and debt with 290 million. Euro reserve for free distribution of cash flows from 146.4 million pounds down to 2.3 times in the line. This Interim dividend, the Board of Directors proposed a 10% increase in 2007. The final dividend is to 9.25p to give a dividend for the year of 13.51p to cover 2.2 times.
Age of corporation:
Corporate age is very important in determining dividend policy. A new company can demand profitable profits for expansion and modernization of the plant and use the company’s dividend policy, and on the other hand, the old company can make a clear and clear dividend policy. Dividend policy of National Express” as agreed in 2015 should cover regular dividends, at least twice per share. Giving this level of dividend must be announced that the board takes time into three major factors account to add to the coverage level: Ports available, Create cash flow this year, Profit and debt with 290 million. Euro reserve for free distribution of cash flows from 146.4 million pounds down to 2.3 times in the line. This Interim dividend, the Board of Directors proposed a 10% increase in 2007. The final dividend is to 9.25p to give a dividend for the year of 13.51p to cover 2.2 times.
Additional capital requirements:
The company retains part of its profits to strengthen its financial position. Such income can be maintained to meet the demand for capital gains or future growth. Small companies find it difficult to make money to raise capital to meet the demand for expansion programs. If not identified, the companies are growing. So they tend to distribute low dividends and maintain a lot of profits. Dividend policy of National Express” as agreed in 2015 should cover regular dividends, at least twice per share. Giving this level of dividend must be announced that the board takes time into three major factors account to add to the coverage level: Ports available, Create cash flow this year, Profit and debt with 290 million. Euro reserve for free distribution of cash flows from 146.4 million pounds down to 2.3 times in the line. This Interim dividend, the Board of Directors proposed a 10% increase in 2007. The final dividend is to 9.25p to give a dividend for the year of 13.51p to cover 2.2 times.
Cash Easy
The availability of money and good financial standing is also an important factor in deciding dividends. Dividends are larger in cash and company cash flows are able to pay dividends. The company’s cash flow relies on the scope of investment and financial decision-making, which limits the extent of expansion and funding. If monetary conditions are not stable, stock dividends will be distributed, and if the money is valid, the company can divide dividend in cash. Dividend policy of National Express” as agreed in 2015 should cover regular dividends, at least twice per share. Giving this level of dividend must be announced that the board takes time into three major factors account to add to the coverage level: Ports available, Create cash flow this year, Profit and debt with 290 million. Euro reserve for free distribution of cash flows from 146.4 million pounds down to 2.3 times in the line. This Interim dividend, the Board of Directors proposed a 10% increase in 2007. The final dividend is to 9.25p to give a dividend for the year of 13.51p to cover 2.2 times.
Credit Capacity:
Major companies that have been approved and are entitled to capital markets more than new ones and can borrow from outside sources as needed. Such companies may have a better proportion of compensation. On the other hand, smaller companies rely on domestic sources and should be accumulated by reducing the good reserves of proportional dividends that cover all obligations that need a huge fund. Dividend policy of National Express” as agreed in 2015 should cover regular dividends, at least twice per share. Giving this level of dividend must be announced that the board takes time into three major factors account to add to the coverage level: Ports available, Create cash flow this year, Profit and debt with 290 million. Euro reserve for free distribution of cash flows from 146.4 million pounds down to 2.3 times in the line. This Interim dividend, the Board of Directors proposed a 10% increase in 2007. The final dividend is to 9.25p to give a dividend for the year of 13.51p to cover 2.2 times.
Past dividends:
To a lesser extent, dividends announced in previous years should also be considered. Shareholders expect the company to pay less than the dividends paid in the past. Of course, if the circumstances change something from the orbit. But in general, the director is reluctant to reduce his dividends last year and, if necessary, retain his dividend deducted from his previous income. Dividend policy of National Express” as agreed in 2015 should cover regular dividends, at least twice per share. Giving this level of dividend must be announced that the board takes time into three major factors account to add to the coverage level: Ports available, Create cash flow this year, Profit and debt with 290 million. Euro reserve for free distribution of cash flows from 146.4 million pounds down to 2.3 times in the line. This Interim dividend, the Board of Directors proposed a 10% increase in 2007. The final dividend is to 9.25p to give a dividend for the year of 13.51p to cover 2.2 times.
Distributor:
If the company operates carefully, it is easy for the board to stop dividend distribution and transfer of profits. However, if funds are shared with a lot of shareholders, it will be difficult for the council to decide to reduce or end its dividend. If the shareholders are higher than the middle class in society, they expect a higher and more stable dividend, and the chairman may ignore shareholders’ expectations. Dividend policy of National Express” as agreed in 2015 should cover regular dividends, at least twice per share. Giving this level of dividend must be announced that the board takes time into three major factors account to add to the coverage level: Ports available, Create cash flow this year, Profit and debt with 290 million. Euro reserve for free distribution of cash flows from 146.4 million pounds down to 2.3 times in the line. This Interim dividend, the Board of Directors proposed a 10% increase in 2007. The final dividend is to 9.25p to give a dividend for the year of 13.51p to cover 2.2 times.
Behavioral Management:
Management attitude has a profound impact on dividend policy. Regular management and conservation will announce lower dividends and most returns will be maintained to strengthen the company’s financial position. Free rule will lead to a policy of free distribution. Controlling management is likely to have a dividend policy. Dividend policy of National Express” as agreed in 2015 should cover regular dividends, at least twice per share. Giving this level of dividend must be announced that the board takes time into three major factors account to add to the coverage level: Ports available, Create cash flow this year, Profit and debt with 290 million. Euro reserve for free distribution of cash flows from 146.4 million pounds down to 2.3 times in the line. This Interim dividend, the Board of Directors proposed a 10% increase in 2007. The final dividend is to 9.25p to give a dividend for the year of 13.51p to cover 2.2 times.
Time of dividend payment – Dividend policy of National Express:
The time of dividing dividends is another consideration. There are high and low cost periods. Since the dividend payment is a cash flow, it is desirable to be divided once it has been at least the company needs. Careful management requires a dividend payment plan to avoid cash flows when an enterprise needs immediate financial need. Dividend policy of National Express” as agreed in 2015 should cover regular dividends, at least twice per share. Giving this level of dividend must be announced that the board takes time into three major factors account to add to the coverage level: Ports available, Create cash flow this year, Profit and debt with 290 million. Euro reserve for free distribution of cash flows from 146.4 million pounds down to 2.3 times in the line. This Interim dividend, the Board of Directors proposed a 10% increase in 2007. The final dividend is to 9.25p to give a dividend for the year of 13.51p to cover 2.2 times.
Investment Strategy – Dividend policy of National Express
The best investment strategy is one that works best for each investor. On the other hand, investment strategies are like food for food: there is no “best investment strategy” that works for you.
Besides not wanting to implement the investment strategy and finding out that you want to distribute some of the new trends you have found in a magazine article. Do not worry about the delicious flavor of the month regarding those that have been tested locally.
To use another comparison, investing in style and strategy is like a suit that suits you. You do not need expensive or expensive items. You need something easier for a long time, especially if your investment goals are longer.
So before you join something, whether it’s a diet, clothing, or investment strategy, see what’s best for your personality and style You can start by looking at the 10 best investment strategies, some of which have theoretical styles and strategies that can help the fund’s first fundraiser.
The best investment strategy: Basic analysis
It starts with a basic analysis because it is the most fearsome and lasting investment style. Mainly used for research and analysis of stocks (individual stocks rather than mutual fund selection), preliminary analysis in this form of strategy is an active investment that includes analysis Of reports providing assistance in selecting a quality supply. Financial reporting data is used to compare past and current data with specific businesses or other companies in the industry.
By analyzing data, investors can reach the fair value of the company’s stock and determine whether the good is good. The chaotic atmosphere in Britain has prompted tourists who detonated transportation systems. Fortunately, there are a number of reasons why these issues are resolved by the NEX. Analysts say winter weather conditions do not have a significant impact on the number of teams. In addition, the Autonomous Region and the United Kingdom, as well as the German Rail, exceeded expectations. The first was an increase of 5.3%, supported by price increases, and the second fixed currencies increased by a fifth, for some periods. CEO Dean Finch says the diversity of the company is very important. It’s true that most sales outside of the United Kingdom. Operating profit in North America increased to 6.2 percent to $ 122 million, though driver demand dropped 30 percent to 9.3 percent. The Spanish and Moroccan brigades ALSA announced a 4.4% increase in operating profit of 108 million euros, with an increasing number of passengers. Independent analysts expect a € 211 million pre-tax profit in 2018 and EPS of 31.5 million euros, compared with £ 200 million and 29.1 million euros in 2017.
The best investment strategy: Value investing
Mutual funds and ETF investors can use core investment strategies or styles using mutual funds with securities. Usually, the value of the investor is sought for a “low” stock. They want to agree. Rather than taking the time to seek out securities and financial reports, the investment companies can buy the Funds Funds (ETFs) or the securities that manage the securities well.
The Best Investment Strategy: Investing in Growth. As the name suggests, stockpiles of economic growth are best represented in the early stages of the market cycle as the economy grows rapidly. This growth strategy reflects well-established client, investor and investor institution, which makes the economy highly anticipated for future growth and spending. Again, technology companies are a good example here. In general, they are highly valued, but they can continue to exceed these estimates when the environment is correct. The perfect version of the investment for economic growth can be found in an investment strategy in the pulse, with a show of strategy to win current price trends that momentum will continue to evolve in the same direction. Most often, mostly with mutual funds designed to attract investment strategies in inertia, are “higher purchasing and higher sales”. For example, mutual fund managers may be looking for a jump in the stock, indicating an upward trend, with the expectation that price trends will continue. Our next job is to create more plans to standardize and combine the timing and presence of human resources railways and the management of wages and financial management. Details of the combined processing process and processing streams are reflected in the needs of the business. By working closely with procurement specialists, Tefen Consultants organizes and processes the competition to select and select the ODE guidelines.
As part of offering flexibility, they are invited to apply for a variety of scenarios, including the use of a business and hosting platform. Another concern is that they have been invited to apply for a hypothesis created by the opportunity to obtain the National Express Group currently being implemented. This auction has been successful in identifying the prospective bidders and outlines the benefits that arise in the original business. This contract was discussed with Open Accounts, Workplace and Software Midland. Implementation is done immediately. The first business to receive the new system is a brand-new railroad set up in 2017.
The Best Investment Strategy: Technical Analysis
Technical analysis can be considered to be against basic analysis. Investors using technical analysis (technical traders) always use graphs to look up the final price model and the current market trend to predict future patterns and trends. In other words, there are specific patterns and trends that can provide traders with specific signs or symbols called indicators of future market movements. Examples of examples are titles such as “head and shoulders” or “cups and cups”. “When patterns begin to form these and their traders confess their business can accept investment decisions based on expected outcomes from models or significant data the proportion of P / E is not It is considered in the technical analysis and trend detail. The chaotic atmosphere in Britain has prompted tourists who detonated transportation systems. Fortunately, there are a number of reasons why these issues are resolved by the NEX. Analysts say winter weather conditions do not have a significant impact on the number of teams. In addition, the Autonomous Region and the United Kingdom, as well as the German Rail, exceeded expectations. The first was an increase of 5.3%, supported by price increases, and the second fixed currencies increased by a fifth, for some periods. CEO Dean Finch says the diversity of the company is very important. It’s true that most sales outside of the United Kingdom. Operating profit in North America increased to 6.2 percent to $ 122 million, though driver demand dropped 30 percent to 9.3 percent. The Spanish and Moroccan brigades ALSA announced a 4.4% increase in operating profit of 108 million euros, with an increasing number of passengers. Independent analysts expect a € 211 million pre-tax profit in 2018 and EPS of 31.5 million euros, compared with £ 200 million and 29.1 million euros in 2017.
The Best Investment Strategy: Buy and Save
Buying and keeping investors as “time in the market” is more investment than “market time”. This strategy is carried out through long-term investments, stocks and acquisitions, and investors believe that long-term returns can be reasonable even in the short term. This strategy is contrary to the actual market time, generally short-term and short-term investors with lower purchase prices and higher selling prices. Investors and investors will argue that long-term holdings should be traded less than other strategies. So trading costs are minimized, which will increase net profit from portfolios. Wallets that use a buy and save strategy are called wipers because of their hobbies. Our next job is to create more plans to standardize and combine the timing and presence of human resources railways and the management of wages and financial management. Details of the combined processing process and processing streams are reflected in the needs of the business. By working closely with procurement specialists, Tefen Consultants organizes and processes the competition to select and select the ODE guidelines. As part of offering flexibility, they are invited to apply for a variety of scenarios, including the use of a business and hosting platform. Another concern is that they have been invited to apply for a hypothesis created by the opportunity to obtain the Expressway National Express Group currently being implemented. This auction has been successful in identifying the prospective bidders and outlines the benefits that arise in the original business. This contract was discussed with Open Accounts, Workplace and Software Midland. Implementation is done immediately. The first business to receive the new system is a brand-new railroad set up in 2017.
Company Valuation – Dividend policy of National Express
The most commonly used evaluation factor is the return / return on HTM (value to earnings). The P / E combines the current share price with the market’s expectation of earnings per share. This set is used to compare the company’s market value with its profit. Higher / Higher NMH companies are considered to be high. Low Income / HMT is assessed. LPSXL, LPSXL and LPSXL are lower than average partners: around 14:00. National Express PLC rankings, according to these indicators, are under the heading of the relevant group. R & R ratio of LS Express Group is lower than average for tourism (tourism and tourism): 16.23. The calculation of the National Express PLC for these measures is below market value for their sector. The National Express PLC’s PM / NM ratio is below 12 years of 12 years. The current rating of LSX Express is based on its average price over the last 5 years.
For relatives and relatives since the last year, unlike ineffectiveness after. The current book value / 1.62 is about the average in the group. The market expects NEX-GB to grow faster than its peers, and it will reconsider its current ROE. The high profit of NEX-GB is due to inefficiency of assets. Annual income changes are consistent with selected colleagues, but the income gap indicates that the company has no reason to spend on growth. Returning to the present wealth of NEX GB and the last five years is about average and less favorable partners compared to management. Gross Profit and Profit before the company’s earnings show the product and strict control of operating costs for friends. While NEX’s revenue has risen about one gigabyte – Market environment over the years, it seems that this market has grown in the future and provides a partnership between the P / E High Fund Friends. Companies can invest more in middle-income businesses. NEX-GB seems to be determined by the current debt limit.
Power and money
NEX-GB is determined by debt. With a debt of 45.22% of the enterprise value compared to a total reference value of 25% (Note: Average expenses of this friend are 51.21%) And the level of coverage of this interest is Three times. NEX-35GB seems to have been deducted. All four partners have unpaid balances. NEX-GB kept its account balance at the end of last year. The NEX GB rate is similar to 3.41 a year, 2.58 times in 2014 last year even though interest rates remained fixed over time, compared to 3, 35, 2015, and their share increased. To 3.35, worth 2.37 times during this time. Interest rate coverage fell 1.05 points against friends. The NEC’s debt rose 11.92 percent from a year earlier and an average of 4 years on average of 40.07. The increase in debt – the EV virus to 45.22% from 33.30% (in 2015) was accompanied by the average increase for this period to 35.2% 51.5%. For EDI colleagues, debt fell 4.23%.
Think about the value of enterprise, the cost of theories of use. It is more comprehensive than market capitalization (equity market), which includes ordinary shares. The value of this enterprise is calculated from the capital and debt market, plus interest, minority rights and preferred shares, cash withdrawal, cash equivalents and marketable securities.
EB to EBIT is calculated as the EBIT of the enterprise. At that time, the team’s price tag for Brisbane Cars was $ 3,965. EBIT Plc Twelve months (ttm) ended in June 2018 with 272 million. Dollar. That’s why the EV / EBIT of LPSPS Express LPF for today is 14.56.
EB-to-EBITDA is calculated as an EBITDA divided by EBITDA. At that time, the team’s price tag for Brisbane Cars was $ 3,965. EBITDA for twelve months (ttm) expires in June 2018 at $ 510 million. Therefore, the ratio between EV / EBITDA and current branches is 7.78.
| Investment Prospects Ratios | 2013 | 2014 | 2015 | 2016 | 2017 | |
| Dividend Yield | 3.63% | 4.15% | 3.40% | 3.47% | 3.54% | |
| Dividend Cover | 1.11 | 1.13 | 1.84 | 1.81 | 1.81 | |
| EPS | 11.1 | 11.6 | 20.9 | 22.2 | 24.5 | |
| PE ratio | 24.79 | 21.41 | 15.92 | 15.93 | 15.56 |
Dividend yields are a measure of investment efficiency, while others see it as “an interest” generated by investment. Dividend yields in securities can signal a firm’s stability and often support a company’s costs. Normally, the company only gets a dividend with a dividend. So, investors always look for companies that have already received a lot of dividends before, such as “safe” investments. So if any event that happens at the point of interest is drawn to the dividend to stabilize the company, the price may be slightly better. Here, for National Express it is seen that from 2013 to 2017 at over the last 5 years its Dividend Yield is close to the constant, though there was a slightly big change in the year of 2014. The fact is to Dividend Yield of National Express is that the company is at the form of investment efficiency.
Dividend insurance is part of the net dividend net profit paid to shareholders, dividend paid per share. This can help explain what dividends are sustainable. Dividends covering less than 1.5 can show the risk of dividing the dividends, while more than 2 are considered healthy. Conversely, dividend coverage is the repayment ratio. Here, for National Express it is seen that from 2013 to 2017 at over the last 5 years its Dividend cover is close to the constant, the fact is to Dividend Cover of National Express is that the company is at the form of sustainable performance in response to the dividend coverage by the company.
Stocks usually buy, receive dividend, or sell them at a higher price in the future. The value of EPS is very important to common shareholders and real value potential, such as dividend payments and future equity increases, depending on company earnings. EPS is widely considered and based on investors. In most states, public companies are required to report EPS data to the income statement. They are reported in earnings. There is no permanent law on earnings translation per share. The higher the EPS, the better. High EPS is a sign of high returns, financials, financials and financial credibility of the company, so one thing to invest money. For meaningful analysis, analysts should calculate the number of EPSs for the year and compare it with EPS figures of other companies in the same industry. The permanent improvement of EPS data annually is an indicator of a continuous improvement in the company’s performance. Here, for National Express it is seen that from 2013 to 2017 at over the last 5 years its EPS is increasing and it is a good indication for company valuation. When the organization is growing with the increased rate of EPS it shows that the company has the proper growth in the earnings of the firm.
Share of profit, a measure of market performance of the company, is one of the financial ratios that is used to evaluate capital investment in a private or public market. Highly proportional companies P / E are likely to be considered as more risky investments than those with a lower P / E ratio, a P / E ratio, meaning that the company has a growth potential. The “EP / EP” ratio varies from industry to industry, which corresponds to comparing the company P / E ratio in the same industry or P / E historical rate for the company. Here, for National Express it is seen that from 2013 to 2017 at over the last 5 years its EPS is decreasing and it is confusing for company valuation. When the organization is decreasing with the increased rate of EPS it shows that the company has the proper growth in the earnings of the firm.
References
ACCform, 2017. Earnings per share (EPS) ratio.
Chronacle, 2017. National Express beats expectations.
Cube, 2017. National Express Group Plc – Value Analysis (LONDON:NEX) : April 24, 2017.
GBR, 2018. Market multiple valuation of National Express Group PLC ( NEX | GBR).
Guru, 2018. National Express Group PLC (OTCPK:NXPGF) Enterprise Value: $3,965 Mil (As of Today).
IA, 2017. Dividend Yield.
NEX, 2017. National Express Group.
NExpress, 2017. Historic dividend information.
Stockpedia, 2017. Dividend Cover.
Wilkinson, J., 2013. Price Earnings Ratio Analysis.
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