Vistry Group PLC COVID-19 / Dividend Update (0740N)
May 15 2020 - 5:16AM
UK Regulatory
TIDMVTY
RNS Number : 0740N
Vistry Group PLC
15 May 2020
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT
JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.
15 May 2020
Vistry Group PLC - COVID-19 / Dividend Update
("Vistry", "Group" or the "Company")
On 25 March 2020, the Group provided an update on COVID-19 and
the measures it is taking to mitigate the impact on its
business.
As part of this update, the Company announced that one of the
measures the Group was taking to maintain a robust balance sheet,
was to postpone the second interim dividend payment of 41.0 pence
per ordinary share totalling GBP60 million, intended to be paid on
29 May 2020 to shareholders on the register as at 6.00 p.m. on 27
December 2019 (the "Second Interim Dividend").
The Board recognises the value of dividends to shareholders and
in light of the evolving impact of the COVID-19 pandemic, rather
than pay the Second Interim Dividend of GBP60 million in cash, the
Company intends to return value by way of a bonus issue (the "Bonus
Issue") to shareholders on the Company's register of members as at
6.00 p.m. on 27 December 2019 and the ex-dividend date of 8.00 a.m.
on 24 December 2019 will remain unchanged. The Bonus Issue would
equate to 4,369,992 ordinary shares of GBP0.50 each in the capital
of the Company (in aggregate) valued at GBP60 million based on a
share price of GBP13.73, being the closing share price of the
Company on 27 December 2019. The Bonus Issue will be subject to
shareholder approval.
Further details regarding the Bonus Issue, which is subject to
standard regulatory approvals, and the related dividend timetable
will be set out in a circular that will be posted to shareholders
and announced in due course.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
UPDSFLFSIESSEFI
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