Wesfarmers Limited
(ASX:WES) has lifted dividend payouts and unveiled plans to return $1.1 billion to shareholders after increasing its annual profit.
The conglomerate saw its net profit surge 19 per cent to $2.689 billion in the full 2014 financial year, exceeding analyst expectations.
The result was aided by the sale of its insurance broking and premium funding operations for $1.01 billion.
A final fully franked dividend of $1.05 per share has been declared, in addition to a special centenary dividend of 10 cents per share, taking the full year payout to $2 per share.
Wesfarmers has also flagged plans to return $1.1 billion in surplus capital through a distribution of $1 per share, subject to shareholder and Australian Taxation Office (ATO) approval.
