Touchstar PLC - Glasgow, Scotland-based supplier of mobile data computing solutions and managed services to a variety of industrial sectors - Announces it intends to start paying dividends following its results for the six months ending June 30, which will be announced in September. Touchstar says an interim dividend will be announced of 1 pence per share, and that it will pay a progressive interim and final dividend each year, linked to profitability and at least 2.5 times that covered by adjusted earnings.
At the annual general meeting on April 22, shareholders approved a share buy-back of 850,000 shares of 5 pence each in the capital of the company. The company says it intends to purchase its own shares, launching a buy-backs scheme. Touchstar initially budgeted up to GBP300,000 for buy-backs this year, but now says it will be dependent upon shares and the price.
Current stock price: 104.50 pence, down 2.8%
12-month change: up 44%
By Will Neill, Alliance News reporter
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Touchstar Plc (TST)