Tesco: details planned special dividend
(CercleFinance.com) - This Monday Tesco unveiled a circular that set out the full details of its planned special dividend, following the divestment of all its stores in Thailand and Malaysia.
The circular confirmed that after the receipt of net funds of 7.8 billion pounds from the deal, the British retailer will make a contribution of 2.5 billion pounds to its pension plan.
Tesco also intends to return nearly five billion pounds to shareholders through a proposed special dividend of 50.93 pence per share, it said.
The circular was published ahead of the group's general meeting on 11 February, with shareholders asked to stay at home and to vote by proxy on the resolutions set out in the circular "as early as possible."
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