Flight Centre Special Dividend Pill Swallowed in Readiness for ANZ Turbulence
We reduce our fair value estimate on Flight Centre by 4% to AUD 36.50 per share. The adjustment reflects the cash leaving the business with the stock trading ex-entitlement to the AUD 1.49 fully franked special DPS from March 22, 2019--a capital management initiative declared on Feb. 21, 2019 which will be paid to shareholders on April 12, 2019.There is no change to our operating earnings forecasts or our fundamental intrinsic assessment of Flight Centre. Shares in the no-moat-rated group remai...
Flight Centre Travel Group is engaged in the travel retailing in both the leisure and corporate travel sectors, plus wholesaling.
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