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London Stock Exchange

Share Price is delayed by 15 minutes

Share Price: 1,290.00

Bid: 1,290.00

Ask: 1,294.00

Change: 8.00 (0.62%)

Spread: 4.00 (0.31%)

Open: 1,282.00

High: 1,304.00

Low: 1,271.00

Prev. Close: 1,282.00

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Vistry Outlines Bonus Issue In Place Of Second Interim Payout

Thu, 18th Jun 2020 10:12

(Alliance News) - Housebuilder Vistry Group PLC on Thursday confirmed plans for what it labels a bonus issue, a shareholder payout which will be made in place of its conventional second interim dividend.

The company in March postponed the planned 41.0 pence payout, in light of Covid-19, saving it GBP60 million.

Instead, and in recognition of the "value of dividends to shareholders", Vistry in May said it will pay the second interim dividend as a bonus share issue.

It would issue about 4.4 million shares at a value of GBP13.73, GBP60 million in total.

The payout needs shareholder approval, which Vistry hopes to obtain at a general meeting on July 14.

Vistry shares were 0.9% lower at 765.00p each in London on Thursday morning.

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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