Ashtead Group Results Presentation Deck
19
CAPITAL ALLOCATION
1. Organic growth
2. Bolt-on acquisitions.
3. Returns to shareholders
Nine month results 31 January 2021
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Fleet investment supporting growth opportunities and COVID-19 response
▪ Greenfield openings resumed in the first quarter with 17 in North America
year-to-date
▪ 25-30 greenfields planned in North America for 2020/21
Full-year capital expenditure expected to be c. £700m
Ashtead
group
▪ Bolt-on activity resumed in February with a good pipeline
Opportunities assessed based on strategic business rationale, timing, capital
allocation priorities and leverage
▪ Interim dividend of 7.15p per share paid in February
Ongoing review of share buyback programme: resumption will be based on
market visibility, capital allocation priorities and leverage
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