Dividends
The Board has approved an interim dividend of 4.05p per ordinary share (H1 2013: 3.75p), an increase of 8%, payable to holders of relevant shares on the register at 5 September 2014. This will be paid on 3 October 2014.
We intend to continue to operate a dividend reinvestment plan as an alternative to the cash dividend.
Peter Long, Chief Executive of TUI Travel PLC, commented:
"We have delivered a strong performance in the first half, driven by our flexible and resilient business model. Demand continues to grow for our unique holidays and we have seen strong growth in online bookings, a key element of our digital transformation. The UK is delivering excellent performance due to market leadership and uniqueness of offering. We are particularly pleased with the result in Germany, where we are making significant headway in improving operating margin and are on a similar journey to that of the UK. In France the turnaround plan to break even is making good progress. Our global leadership position in Accommodation Wholesaler is also delivering strong growth. Overall, we are pleased with Summer 2014 trading, against strong comparatives, and we remain confident of delivering 7% to 10% growth in underlying operating profit during the year on a constant currency basis1,2."
