Building materials group Grafton will continue to increase its dividend payout even if the company’s earnings per share figure falls, as expected, in the year ahead.
Grafton, the owner of Woodie’s DIY, Atlantic Homecare and the Heiton Buckley builders’ merchants chain, operates an unconventional dividend policy that sees it use the cash earmarked for paying dividends to buy its own shares on the open market.
The policy means that shareholders...
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