Analyst Views: Jupiter has cut its debt – is there scope for a dividend hike?
HALEY TAM | CITI
“Jupiter paid off the last of its debt in February 2014, and is not reliant on its consolidation waiver, which runs to June 2015. There is clear potential for increased returns to shareholders in 2014 from the group’s strong operating cashflow generation of £122.1m in 2013.
PETER LENARDOS | RBC CAPITAL
“We are pleased that management has delivered on its commitment to working the balance sheet harder than it has done previously, to a level above our expectations. We believe shareholders should continue to benefit from ongoing growth in the business and attractive returns.
MICHAEL SANDERSON | SOCIETE GENERALE
“It reported results slightly ahead of expectations at the profit before tax and earnings per share level. However, a 43 per cent increase in dividend per share shows the increased capital and cashflow available for shareholders following the pay down of the group’s gross debt balances to nil.