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.
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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Higher rates are disappearing – should you fix your savings?
Fixed savings rates have dropped to their lowest levels in over a year. Should you fix your savings now ahead of a potential base rate cut in November?
By Katie Williams Published
-
Nine million people fall victim to financial scams, says Citizens Advice
The charity says that around one in five people across the UK have been caught out by a finance scam in the past year - here is how to protect your money
By Chris Newlands Published