Loading

Copenhagen Airport shareholders approve distribution of dividend

Analysis

In Europe, shares Denmark's Copenhagen Airport led the way down yesterday, closing 3.5% lower, following the operator's Annual General Meeting on Monday (22-Mar-2010). At the AGM, shareholders approved plans to distribute a dividend of EUR47.6 million or EUR6.06 per share for FY2009. Shareholders also elected Henrik Gürtler as Chairman of the airport and Max Moore-Wilton as Deputy Chairman.

Summary
  • Copenhagen Airport's shares dropped by 3.5% following the Annual General Meeting where shareholders approved dividend distribution.
  • London Heathrow's third runway is projected to provide lower economic benefits than initially estimated due to new assessment methods for carbon dioxide emissions.
  • Ferrovial, the owner of BAA, gained 0.6% in response to the news about London Heathrow's third runway.
  • The UK Department for Transport still considers the economic case for the third runway to be positive.
  • CAPA's Airport Business Daily provides strategic news updates from global airports, including the mentioned developments in Europe.
  • The provided share price movements are based on data from the Centre for Asia Pacific Aviation and Yahoo! Finance.

London Heathrow third runway will not provide as high an economic benefit

Meanwhile, Spain's Ferrovial, owner of BAA, gained 0.6%. The UK Department for Transport (DfT) has admitted a third runway at London Heathrow Airport will not provide as much in economic benefits as originally estimated. Its projection follows the introduction of a new assessment method for the cost of carbon dioxide emissions by the UK Government. DfT previously forecast the additional runway would provide the UK economy with GBP5.5 billion in benefits, based on the previous price of carbon and assuming flight numbers rose to 702,000 p/a. However, the DfT stated the economic case for the runway is still positive.

CAPA's exclusive Airport Business Daily contains the latest strategic news updates from global airports, including these items from Europe today.

Selected airports daily share price movements (% change): 23-Mar-2010

Want More Analysis Like This?

CAPA Membership provides access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More