Invensys to return proceeds of rail sale to shareholders

IT and engineering firm Invensys is returning to shareholders 625m pounds of the cash proceeds from its sale of its Rail business to Siemens.

The return will be made through a distribution of 76.7p per share.

Invensys also announced a share consolidation of four new shares for every five existing shares to maintain the market price for shares.

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It will be subject to shareholder approval which will be sought at a general meeting next Monday.

The announcement comes a week after the group recommended a final dividend of 2.85p per share for the full-year to march 31st.

Shares fell 0.30% to 401.50p at 09:12 Tuesday.

RD