Investors in Paddy Power Plc are set for a windfall after the Irish gambling giant announced it is to pay €141 million in dividends following the completion of the merger with Betfair.
Paddy Power released a statement revealing it expects to announce yearly profits of approximately €180 million, up 9.9 percent on the €163.8 million profit generated in 2014; full results are to be disclosed on March 8. Once the merger with Betfair is completed on Feb. 1, Paddy Power is paying a special dividend of €80 million, which works out at €1.