Stelios praises O’Leary on dividend
02.06.10
Stelios Haji-Ioannou, the easyJet founder currently in dispute with the budget airline's board on the issue of dividends and aircraft purchases, praised rival Ryanair and its chief executive, Michael O'Leary after he announced a special dividend yesterday.
Stelios noted that less than two years ago, Mr O'Leary said it was ‘absurd’ for an airline to pay a dividend. He said ‘I never thought the day would come so quickly when I would be able to say, 'Thank you, Michael'. Obviously I hope Carolyn McCall [easyJet's new CEO] and Mike Rake [its chairman] are watching this closely. I would expect nothing less from easyJet.'
Mr O’Leary is to benefit personally to the tune of around €20 million from the one-off special dividend to shareholders. He holds around 4% of Ryanair’s shares and his payout is part of a €500 million October dividend.
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