Orora Limited Provides Proposed Capital Management and the Trading Update.

  • May 08, 2020 AEST
  • Team Kalkine

Orora Limited (ASX:ORA), highlighted on the proposed capital management and the trading update.

The company intends to return $600 million to its shareholders by 30 June 2020. It includes capital return of $150 million depending on shareholders approval and a special dividend of $450 million.

In the remaining part of FY2020, the company expects a challenging market conditions to continue. This along with the financial impact of the G2 rebuild in H2 and time for the North American improvement plans to be fully achieved, are projected to result in reported operating EBIT for the continuing operations to be less in FY2020.

Also, financial impact from COVID-19 in 2H FY2020 to expected to be ~ $25 million.

 


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