TTR.L Share News (TTR)

32Red will pay shareholders a special dividend after being awarded more than one million pounds in costs relating to its long-running legal wrangle with William Hill.The four-year long dispute has centred on William Hill's online casino brand 32Vegas which 32Red said infringed its trademarksThe High Court found in favour of 32Red in 2011. William Hill lost an appeal in January 2012 and 32Red has been seeking to recover its costs. 32Red said:"Following a hearing held before the High Court on June 10th 2013 a costs order has now been made in 32Red's favour in respect of its trade mark action against members of the William Hill Group."Along with the damages award of £0.15m announced in April, 32Red said it expected to receive approximately £1.1m from William Hill. The bookmaker has already made an interim payment of £0.8m.The company said it will hand 2.5p a share to shareholders in a special dividend payout on August 2nd.Michael Campbell, analyst at Daniel Stewart, said: "The infringement award is good news for 32Red which not only results in economic benefit to shareholders through the special dividend but also removes the competing 32Vegas brand from the market which we expect to lead to further economic benefits for 32Red and its shareholders."Shares in 32Red were up 1.8% at 51.42p while those in William Hill 0.29% firmer at 453.2p TB