Wesfarmers urged to share wealth: report

Following estimates it could be holding in excess of $3.5 million in excess capital, Wesfarmers Ltd is facing calls to return some of the wealth to investors, The Australian reports.

According to the newspaper, the Perth-based retail giant will offer more detail on its fiscal plans at an annual strategy briefing on May 29.

Since acquiring Coles some five years ago, Wesfarmers has largely adopted a concervative approach to its balance-sheet management.

The Australian reports the agenda for the briefing has been circulated to both analysts and investors, with the typically final item for discussion capital management elevated to the first item of discussion at the briefing.

Bank of America Merrill Lynch research analyst David Errington expects Wesfarmers' dividends to increase over the next two to three years.

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