13th Mar 2019 14:42
LONDON (Alliance News) - Plexus Holdings PLC on Wednesday declared an interim dividend of GBP1.0 million in total, equivalent to 0.99566 pence per share, following the sale of a business to FMC Technologies Ltd in February.
Plexus, an oil and gas engineering services business, also intends to cancel is share premium account so that it can increase its distributable reserves. The cancellation is subject to court approval and the passing of a resolution.
"The principal benefit of the reduction of capital will be to increase the company's flexibility to pay dividends, to facilitate any prospective buyback of shares or to provide flexibility for any other general corporate purposes should the company so determine at a future date, subject always to the financial position and prospects of the company," Plexus said.
Shares in Plexus were up 0.6% at 58.83 pence on Wednesday.
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