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.
The board is proposing to pay the special dividend to shareholders on the register as at 6.00pm on Monday, 8th October 2012 in sterling and $1.72 per ADR to ADR holders on the ADR register as at 4.00pm (New York time) on Monday, 8th October 2012.
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The share consolidation will replace every 15 existing ordinary shares with 14 new ordinary shares.
JH
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