DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Retail

Retailer Casino To Pay Interim Dividend Despite Fund Critics

By Dayeeta Das
Share this article
Retailer Casino To Pay Interim Dividend Despite Fund Critics

French retailer Casino, whose shares have been under pressure due to concerns over the financial situation of parent Rallye said it would pay an interim dividend of €1.56 per share for 2018, unchanged from the 2017 payout.

Rallye is engaged in a row about how it calculates its accounts, with some hedge funds arguing its methodology flatters the company's net value. The funds have also criticised the payment by Casino of a dividend.

Casino is the main asset of Rallye, which has a 51% stake in the company.

Within the Casino group, dividends from Casino are used to maintain Rallye's debt interest payments. The shares of Casino that are held by Rallye are also pledged as collateral to banks in order for Rallye to obtain more financing.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

ADVERTISEMENT
Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.