Vectura Group plc: Proposed Special Dividend and Share Consolidation, Share Buyback Programme and Dividend Reinvestment Plan
On 17 July 2019, the Board announced its intention to undertake a capital return of approximately £50 million in 2019. The Board today announces that it intends to undertake an increased capital return of approximately £60 million. For the full RNS update, please click here.
Paul Fry, Interim Chief Executive Officer of Vectura, commented: “Today we’re announcing our intention to increase our capital return from £50 million to £60 million, reflecting our belief in a strong outlook and the cash generative nature of our business. Following feedback from our major shareholders, we believe the proposal of a special dividend coupled with an on-market share buyback programme delivers the right balance of speed and efficiency, whilst providing liquidity for the stock during a period of potential uncertainty in financial market conditions.”
A General Meeting of shareholders will take place on 10 October. The Notice and Circular, Proxy Form, Dividend Reinvestment Plan (DRIP) and DRIP Terms and Conditions are all available here.