CLS Holdings has announced a new twice-yearly dividend.
The company intends that the first dividend will be a final dividend for the year ending 31 December 2016 and announced with the company’s full-year results on 8 March.
At its AGM on 26 April the board will recommend a “share sub-division” of its existing ordinary shares of 25p each into 10 new ordinary shares of 2.5p each.
The dividend payments replace the company’s tender offer buy-backs.
Fredrik Widlund, chief executive of CLS, said: “We believe that these changes will make CLS more easily comparable with other listed property companies and a more attractive investment proposition for new shareholders, with the aim of improving liquidity in the group’s shares and broadening the shareholder base.”
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