The drugmaker AstraZeneca (AZ) has announced a 7% increase in its annual dividend, highlighting its confidence in performance and cash generation. The timing of the announcement, just before the annual general meeting, raises concerns about the UK's competitiveness as a business destination.
The drugmaker AstraZeneca promised this morning to raise its annual dividend by 7% this year. The UK's biggest company said the pledge underlined its confidence in its performance and cash generation and had taken into account other capital allocation priorities as well as previously announced acquisitions and business development. What is particularly interesting about the announcement, which has sent shares of AZ up by 2%, is its timing.
The company went on to distinguish itself by teaming up with the University of Oxford to produce a COVID vaccine at cost and - symbolising Sir Pascal's complete rebuilding of AZ's R&D operations - building a huge new £1.1bn campus on the outskirts of Cambridge where more than 2,300 scientists are employed. AZ recently announced it will invest a further £200m in the site to house a further 1,000 scientists.
Astrazeneca Dividend Annual General Meeting UK Competitiveness Business Destination
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