FTSE LIVE: Morrisons to dish out a special dividend

Morrisons has reported a rise in annual sales and profits as its turnaround gathers pace.

The Bradford-based chain said it made underlying profits of £374m in the year to 4 February, up from £337m in 2016.

Like-for-like sales excluding fuel, and stripping out stores open for less than a year, were up 2.8%.

The good performance allowed for the announcement of a 4p a share special dividend payout for its shareholders, which sees the total full year dividend nearly double to 10.09p a share.

Jane Denton has the full story. 

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