UPDATE 3-Royal Mail puts parcels at heart of growth plan [Reuters (UK)]
INTERNATIONAL DIST U/ADR (ROYMY)
NASDAQ:AMEX Investor Relations:
royalmailgroup.com/investor-centre
Company Research
Source: Reuters
UPDATE 3-Royal Mail puts parcels at heart of growth plan - Reuters 4 Min Read * Cuts annual dividend by 40% * Aims for 40% revenue outside UK, 70% from parcels * Plans new parcel postboxes across Britain * UK growth, parcels push main priority - CEO (Adds CEO, analyst comments, shares, details on parcels push) By Shashwat Awasthi and Noor Zainab Hussain May 22 (Reuters) - Royal Mail Plc slashed its dividend by 40% on Wednesday to fund a new five-year turnaround drive focused on expanding its parcels business internationally to better position the group for a future dominated by online deliveries. Facing the threat of renationalisation from the opposition Labour Party, the former British monopoly promised to invest a further 1.8 billion pounds ($2.3 billion) in its UK postal service in the hope of turning it around. Royal Mail’s shares rose as much as 9 percent to 231 pence but that is still well below their flotation price of 330 pence in 2013. In a sign of changing priorities, the co
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