The share price of InterContinental Hotels Group (IHG) has risen today (August 6th), after the company announced a massive share dividend.
It was revealed by the firm that it will be returning $350 million (£227 million) to its shareholders through a special dividend, after enjoying a strong trading period.
Chief executive Richard Solomons explained IHG has been growing its margins and this has allowed it to reinvest in the business.
He pointed out that this has resulted "in solid underlying profit gains led by our Americas region and strong cash flows".
Revenue increased seven per cent to $936 million, giving the company the chance to offer the special dividend to its shareholders.
Stocks in IHG are up today on the back of its latest financial results, with shares trading at 2,105.00 at 16:33 BST.
This was a rise of 5.61 per cent on the start of the day – a jump of more than 100 points.
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