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Prices & Quotes - UK Markets - IWG (IWG)

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Share Price:
Down 313.60p
Change Today:
Market Cap:

IWG launches share buyback, ups interim dividend

By Iain Gilbert

Date: Tuesday 06 Aug 2019

LONDON (ShareCast) - (Sharecast News) - Co-work and workspace operator IWG launched a share buyback programme and upped its interim dividend on Tuesday as part of an effort to increase its appeal among investors.
IWG saw pre-tax profits rise 2% in the six months ending on 30 June to 55.2m, driven by a 12.3% rise in revenues to 1.3bn.

The FTSE 250-listed group, which was in the process of transforming its entire business to a franchising model, increased its overall number of locations to 3,334 during the half and added six new franchise partners - bringing the total to 24 with commitments to another 300 sites.

As a result of the strong first half, IWG was planning to hike its interim dividend by 10.3% to 2.15p per share and buy back 100m of shares.

Chief executive Mark Dixon said: "Even in this period of global, political and economic uncertainty, we expect the positive momentum to continue in our business and this is reflected in the increased proposed dividend and 100m share repurchase programme."

"With our strategic move towards a franchised business, and with the first material strategic partnership signed in the second quarter, we felt it was important to give clarity on how we think about the use of proceeds from such transactions. We believe excess cash should be returned to shareholders."

As of 0840 BST, IWG share shares inched back 0.39% to 360.50p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.


IWG Market Data

Currency UK Pounds
Price 313.60p
Change Today -5.20p
52 Week High 383.60p
52 Week Low 222.60p
Volume 1,222,596
Shares Issued 1,007.37m
Market Cap 3,159.11m

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What The Brokers Say

Strong Buy 5
Buy 1
Neutral 4
Sell 0
Strong Sell 0
Total 10
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

IWG Dividends

  Latest Previous
  Interim Final
Ex-Div 05-Sep-19 25-Apr-19
Paid 04-Oct-19 24-May-19
Amount 2.15p 4.35p

Trades for 30-Jul-2021

Time Volume / Share Price
16:35 609,857 @ 313.60p
16:29 323 @ 315.50p
16:29 182 @ 315.50p
16:29 129 @ 315.50p
16:29 425 @ 315.50p

IWG Key Personnel

Chair Douglas Sutherland
CEO Mark Dixon
CFO Glyn Hughes