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Record dividends for Icelandic investors

Iceland, the low-price UK supermarket chain, in which Icelandic investors hold an 80 percent stake, will be paying out a record ISK 39 billion (USD 581 million, EUR 432 million) in dividends as part of the company’s refinancing scheme.

Iceland’s stakeholders, including Baugur Group, Fons and Milestone, are entitled to ISK 31 billion (USD 431 million, EUR 344 million) of this amount, which is six times the original purchase price, as Fréttabladid reports.

Never before have Icelandic investors profited as much from a foreign company.

“The operation [of Iceland] went well from day one […]. Owners and managers had a very clear visions of the strategy moving forward,” said CEO of Iceland Pálmi Haraldsson.

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