Since the announcement of the 2003 Strategic Review, the Company has built strong excess cash levels. Some of this excess cash has been returned to shareholders through increased dividends. In the period FY03 to FY05 dividends per share paid to shareholders have increased by 117 percent. The remainder of the excess cash generated by the business will be utilised (in conjunction with debt) to fund the unwinding of the Sale & Leaseback Transaction relating to David Jones' Sydney and Melbourne flagship CBD stores (S&L Transaction). This transaction is due to complete in late September 2006.
David Jones is not only Australia's oldest department store, but the oldest department store in the world still trading under its original name. A short history of the company, from 1838 to the present, follows: if you're interested in one particular era or event, just click on the relevant date on the timeline, and it will take you straight there.
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