easyJet hikes dividend on higher profits

Low-cost carrier eastJet this morning hiked its dividend by more than 100 per cent, as it reported a 28 per cent jump in pre-tax profit over the year to September.

Pre-tax profit came in at a record £317m, up from £248m the year before, a jump of 27.9 per cent, which was helped by a surge in late summer demand.

The dividend jumped to 21.5p per ordinary share, up from 10.5p in 2011.

Total revenue per seat grew by 5.9 per cent to £58.51.

Chief executive Carolyn McCall said that easyJet had proposed the increased dividend as “evidence of its confidence in easyJet's current position and future prospects”, adding that shareholders will “benefit from easyJet's success with £85m of dividends”.