On 4 September 2015, GVC announced its formal bid for bwin.party digital entertainment plc, via the formal mechanism of a "rule 2.7 announcement" - a requirement of the City Code on takeovers and mergers. A link to that announcement can be found HERE. As one of the conditions of the €400 million debt financing of this deal, GVC has to introduce a dividend holiday for calendar 2016, thus, the dividend announced on 8 October 2015 will not be followed by any further dividends until early 2017. The dividend holiday was announced in an webcast made on 4 September 2015. The text stated as "GVC's long-term progressive dividend policy will remain a key part of our investment case. In the short-term a dividend holiday is planned for the first year whilst the restructuring is carried out." This text can be heard on the webcast at 00.09.12 minutes. The link to the webcast is here.

GVC's dividend policy has historically been to pay dividends in a calendar year which broadly equate to 75% of the free cashflows, defined in its financial statements as Clean Net Operating Cashflows ("CNOC"). The most recent description of the calculation of this appears on page 13 of the 2014 Annual Report.

The history of dividends since May 2007 is shown in the table below

Dividend History & FX Rates


Recent Dividend History


 

Record of dividends per share and EUR/GBP rates used since 2007

Date declared Headline rate   Divi per share
in EUR
  Divi per share
in pence
  Actual
FX rate
  Notes
01/05/2007 1.4697   19.3   13.00   (six figures)   Dividend declared in GBP
at 13p per share
01/10/2007 1.4388   20.0   13.90   1.438849    
01/05/2008 1.2658   20.0   15.90   1.257862    
01/10/2008 1.2634   20.0   15.83   1.263424    
01/05/2009 1.1254   20.0   17.77   1.125492    
01/10/2009 1.0953   20.0   18.26   1.095290    
01/06/2010 1.1915   50.0   41.96   1.191500    
28/09/2010 1.1400   10.0   8.77   1.1400    
28/03/2011 1.1312   10.0   8.84   1.131222    
29/09/2011 1.1547   10.0   8.66   1.154734    
25/05/2012 1.2523   11.0   8.7835   1.252348    
19/09/2012 1.2405   15.0   12.09   1.240541    
25/01/2013 1.1875   7.0   5.895   1.187507    
                   
Subtotal     232.30   189.66        

Dividends paid / declared since acquisition of Sportingbet plc on 19 March 2013

01/07/2013 1.1582   10.5   9.0658   1.158199   First Interim dividend, 2013
25/09/2013 1.1910   10.5   8.816106   1.191002   Second Interim dividend, 2013
09/01/2014 1.2105   11.5   9.500   1.210526   Third Interim dividend, 2013
09/04/2014 1.219   11.5   9.434   1.219   Final dividend
09/04/2014 1.219   4.5   3.691   1.219   Special dividend
15/07/2014 1.26645   12.5   9.87   1.26645    
22/09/2014 1.27632   12.5   9.79   1.276324   Special Interim dividend
22/09/2014 1.27632   2.5   1.96   1.276324   Special dividend
12/01/2015 1.30250   12.5   9.60   1.3025   Third interim dividend
23/03/2015 1.3600   14.0   10.29   1.360544   Final dividend 2014
23/03/2015 1.3600   1.5   1.10   1.360544   Final dividend 2014 - Special
08/07/2015 1.43479   14.0   9.7575   1.43479   Quaterly dividend 2015
08/10/2015 1.35302   14.0   10.3472   1.35302   Second interim dividend, 2015
                   
Subtotal     132.00   103.22        
Total since 01.05.2007     364.3   292.88        

 

Website updated: 5 September 2016