National Express increases its 2014 interim dividend by 3%

DividendMax Ltd.

National Express increases its 2014 interim dividend by 3%

Highlights

Positive progress in the first half of 2014.

Excellent cash generation: £80 million of free cash flow in the first half of the year, with a full year target of £150 million. Net debt reduced by £80 million over the last 12 months.

Success in winning new contracts worth £5 billion and sustaining market-leading contract retention rates.

Underlying growth in both revenue and passenger numbers, in the UK, North America and Morocco.

Dividend increased 3% to 3.35 pence per share (based on 2x covered by non-rail earnings in the full year).

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