Paddy Power's operating profits to land at €180m as dividend announced ahead of Betfair merger

 
Catherine Neilan
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The merger will complete on 2 February (Source: Getty)

Paddy Power has said operating profits for the full year should come in at €180m (£136m), after a good final few weeks of 2015.

But that will bring earnings per share in at around €3.33, below consensus, which was tipping it at €4 a share most recently.

Shareholders will receive a final dividend of €1.20 per share, taking the full year regular dividend for 2015 to €1.80 per share. On top of this, they will receive a special dividend of €80m, around €1.80 per share, and a closing dividend of €0.18 per share as the company merges with Betfair, which is set to complete on 2 February. The record date for all three is 6p.m. on 1 February and the payment date is 2 March.

Preliminary results are expected to be released on 8 March.

Betfair announced this morning that its shareholders will receive a closing dividend of 24.3 pence per share, based around the same dates.

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