IHG's special divi to be 108.4p per share

The wait is over for InterContinental Hotels Group (IHG) shareholders waiting for details of the hotels group's special dividend, with the group announcing it will be paying out 108.4p per share.

The Holiday Inns group announced on August 7th that it planned to return $0.5bn of funds to shareholders via a special dividend tied to a share consolidation, plus another $0.5bn through a share buy-back programme, and it has now made good on that pledge.

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The share consolidation will replace every 15 existing ordinary shares with 14 new ordinary shares.

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