HUTSON DOUBLES STAKE IN G8

Written on the 19 March 2013

HUTSON DOUBLES STAKE IN G8

JENNY Hutson (pictured) has shelled out $1.56 million to boost her stake in Gold Coast childcare group G8 Education as the company's share price continues to flirt with all-time highs.

The G8 Education chair has bought 800,000 shares in the company, doubling her holding to 1.6 million shares.

The shares were bought for $1.95 each on March 15, according to a statement issued by G8 to the Australian Securities Exchange.

Based on the current share price of $2.02, Hutson has pocketed a handy $56,000 profit on her latest share acquisition since then.

Hutson's combined holding of 1.6 million shares in G8 Education is valued at $3.232 million based on the most recent share price.

G8 Education shares shot above $2 for the first time on March 15, hitting a high of $2.01.

This morning they traded even higher, rising to $2.02.

G8 Education, which has developed a strong appetite for acquisitions in recent years, posted an 11 per cent lift in profit to $19.2 million for the 2012 calendar year.

The result beat consensus forecasts and paved the way for the group to lift its quarterly dividend payments to 2.5c a share.

Based on her current shareholding, Hutson's stake in G8 Education will deliver her with $40,000 a year in dividend income, helping top up her annual remuneration of $87,200 as chair of the group.

G8 Education is now the largest listed childcare centre provider in Australia with a portfolio of 175 centres accounting for 13,421 childcare spaces.

Read more on Jenny Hutson's rise to the top in the latest edition of Gold Coast Business News. To get the latest edition contact us on 07 5575 7400 or email admin@goldcoastbusinessnews.com.au


Latest News

ASF UNVEILS TRAFFIC PLANS FOR THE SPIT

A SECOND bridge over the Nerang River is the centrepiece of the ASF Consortium's plan to improve traffic flow ...

BHP AND VALE EDGE CLOSER TO $47.5 BILLION SAMARCO DAM DISASTER SETTLEMENT

BHP Billiton (ASX: BHP) and Brazilian mining company Vale have entered into a preliminary agreement with Brazilian fe...

BLK SPORT FOUNDER TYRON BRANT REMAINS CEO UNDER NEW OWNERS

BLK Sport has been purchased from receivers McGrathNicol by a private consortium composed of a TimorLeste-based oi...

CARSALES CEO RETIRES AS NEW COMPETITOR COX FINALISES MERGER

CARSALES will have a new CEO as it takes on a fresh challenger to its crown as the dominant online car sales portal i...

Related News

CARSALES CEO RETIRES AS NEW COMPETITOR COX FINALISES MERGER

CARSALES will have a new CEO as it takes on a fresh challenger to its crown as the dominant online car sales portal i...

BUSINESS CONFIDENCE AT A SIX-YEAR HIGH

SMALL and medium businesses have entered 2017 with their confidence at a six-year high, building on strong gains m...

CONSUMERS PESSIMISTIC ENTERING 2017

CONSUMER confidence remains at its weakest point since April 2016, according to the latest Westpac Melbourne Institut...

RISE OF STARTUP SUPPORT PROGRAMS NOT AS ROSY AT IT SEEMS

ENTREPRENEURIAL cultivation companies in Australia are appearing quickly, but questions have been raised about whe...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter