Scottish Business Briefing - Friday March 8 2013
INSURANCE
Standard Life to share out £302m windfall
STANDARD Life investors are to share a £302 million special dividend windfall in a move which has cast further shadows over the performance of its rival Aviva. While the Edinburgh-based group was unveiling the 12.8p a share payout on the back of bumper profits, Aviva shares were tumbling as new chief executive Mark Wilson announced its dividend was being slashed by more than a quarter to build up capital reserves for the turnaround of the business.
Read the full article(Scotsman)
FOOD, DRINK & AGRICULTURE
Distiller toasts bank’s help as £450,000 invested in bond
One of Scotland’s smallest distilleries said yesterday it would invest nearly £500,000 in storage space for its single malt. Kilchoman Distillery, the youngest distillery on the whisky island of Islay, will store up to 9,000 casks in a bonded warehouse being built on land at Conisby, near Bruichladdich.
Read the full article(Press & Journal)
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John Lewis partners £211m bonus as online sales surge
HIGH street chain John Lewis has boosted its staff bonus following a surge in online sales that put the partnership back on the path of rising profitability last year. About 2,400 employees working for the group’s eponymous department stores and Waitrose supermarkets in Scotland will benefit from a bonus of 17 per cent of salary, which was driven by the company’s rapidly expanding online operation.