19th May 2014 14:53
LONDON (Alliance News) - Compass Group PLC Monday said it plans to return 56 pence per share to shareholders on July 7, providing roughly GBP1 billion, as part of its recently announced payout.
The food support and services company said the return of cash is being treated as a "B and C share" scheme to allow shareholders to choose whether to receive cash proceeds as an income payment, a capital payment or both.
The company announced the special payout earlier in May but announced the details on Monday.
It also said that there will now be a consolidation of every 17 shares in the company to 16 new shares so that shareholders will own the same proportion of the company after the GBP1 billion payout.
Compass Group shares were up 1.1% to 1,001 pence per share Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
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