Amcor (ASX:AMC) lifts dividend and upgrades earnings

Company News

by Rachael Jones

Packaging company Amcor (ASX:AMC) has upgraded its guidance for earnings growth for the 2021 financial year and raised its dividend after it’s first half results.

The company saw adjusted EBIT of $743 million, that’s up 8 per cent in constant currency terms on the last half.

They experienced cost synergies of $35 million after buying US packaging company Bemis and expect approximately $70 million of synergies by the end of the financial year.

It declared a quarterly dividend of US11.75 cents, higher than its US11.5 cents dividend from the previous year.

Shares in Amcor (ASX:AMC) are trading 6.18 per cent higher at $15.28.