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Shareholder returns have been phenomenal at InterContinental Hotels (IHG). The Crowne Plaza and Holiday Inn operator says it has returned $12.8bn since 2003, nearly $5bn of which has come from underlying operations. The company has lifted its total dividend for 2016’s financial year by 11% and announced a $400m special dividend on top. This is a high quality business and a high quality investment. (DC)
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