TheWorks.co.uk PLC - Birmingham, England-based retailer of arts & crafts, stationery, toys and books - Notes that 65% of those at its annual general meeting on Tuesday voted against declaring a final dividend of 1.6 pence. As a result, company confirms that the final dividend originally timetabled to be paid will now not be paid. Says it will now consult shareholders regarding alternative capital distributions, including consideration of share buyback.
"We remain committed to open and transparent dialogue with shareholders and will now engage further with those that voted against certain resolutions to better understand their views. Given that the proposed dividend will now not be paid, we will also consider alternative means of capital distribution, including share buybacks," the company says.
Current stock price: 39.10 pence
12-month change: up 6.7%
By Heather Rydings, Alliance News senior economics reporter
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Theworks.co.uk. (WRKS)