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 for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
‘I installed a heat pump in my home – here are five things I’ve learnt’
From the size and noise of a heat pump to how much it costs to run one, Ruth Emery reveals what she’s learnt after installing one in her home six months ago
-
3 ways to work out if a stock is good value
The only thing you can really control in investing is the price you pay for an asset – but how can you tell if you’re getting a good deal when it comes to the price of a stock?