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Old Mutual: Special Dividend and Share Consolidation
Old Mutual has announced that shareholders will receive a special dividend of £1 billion or 18 pence per share, now the sale of the Nordic business has been completed.
Completion of the sale follows the receipt of approvals for this disposal from the relevant regulatory authorities on 8 March 2012, and from ordinary shareholders in the General Meeting held on 14 March 2012.
Highlights:
- Shareholders will receive a special dividend of 18p per share, with local currency cash equivalents being determined using exchange rates prevailing at the close of business on 3 April 2012, to be announced by the Company on 4 April 2012; and
- There will be a share consolidation whereby each shareholder’s percentage holding in the company will be unaffected but the number of Old Mutual shares in issue will be reduced.
The special dividend of 18p per ordinary share will be paid on 7 June 2012, as will the final dividend for 2011 of 3.5p per share, provided that the final dividend is approved by shareholders at the Company's 2012 Annual General Meeting.
This Old Mutual micro-site is dedicated to the company’s retail shareholders, to assist in answering any questions that shareholders may have about the special dividend and the share consolidation.
Calendar
| Date | Description |
|---|---|
| 3 Feb | Publication of circular |
| 9 March | Announcement of Old Mutual plc preliminary results for 2011 and publication of detailed timetable for share consolidation, special dividend and final ordinary dividend for 2011 |
| 14 March | General Meeting |
| 4 April | Exchange rates announced |
| 7 June | Payment of Special Dividend and Final Dividend |