Dufry: pays cash dividend; promises share buy-backs

(CercleFinance.com) - Dufry plans to propose to shareholders a cash dividend of 3.
75 Swiss francs per share and has decided to launch a share buyback program of up to 400 million Swiss francs, for cancellation over a period of up to 12 months, the travel retailer said on Friday.

The Dufry share is currently up 2.4% at 134 Swiss francs as a result.

In a report issued this morning, Oddo BHF analysts in Paris hail the group's "positive and reassuring" policy of returning cash to shareholders.

Dufry also plans to propose at its AGM on 3 May the election of fashion and retail consultant Lynda Tyler-Cagni and US businessman Steven Tadler as new independent board members directors, as Xavier Bouton and Joaquin Moya-Angeler Cabrera are not standing for re-election.

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