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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 [email protected]
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