6th May 2016 13:46
LONDON (Alliance News) - LXB Retail Properties PLC on Friday said it will return GBP64.0 million to shareholders, equivalent to 38% of its market capitalisation.
In a statement, the Jersey-resident closed-ended real estate investment company said it plans to make the cash return through a dividend of 38 pence per share.
The move follows completion of the sale of its Rushden Lakes investment to The Crown Estate on Wednesday.
Shareholders will be invited to choose how to receive the return. The options are either the payment of a cash dividend or the issue and subsequent redemption of B Shares, or a combination of the two.
Shares in LXB were down 0.7% at 100.25 pence Friday.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
LXB.L