Avast sets interim dividend in case NortonLifeLock takeover delayed

(Alliance News) - Avast PLC on Monday declared an interim dividend to be paid only if its takeover by US cyber security peer NortonLifeLock Inc is delayed.

Avast declared an interim dividend of 11.2 cents. The Prague-based digital protection company said the dividend won't be paid if the takeover is completed before March 1.

In August, Avast agreed to be bought by Tempe, Arizona-based NortonLifeLock in a deal worth at the time about USD8.6 billion. For each Avast share, the offer was USD2.37 in cash, plus 0.1937 of a NortonLifeLock share.

The merger is expected to become effective on February 24.

Shares in Avast were down 0.2% at 619.00 pence on Monday morning in London. NortonLifeLock shares closed at USD27.59 in New York on Friday, up 8.7% on the day.

By Heather Rydings; heatherrydings@alliancenews.com

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