ComputaCenter plc (CCC.L) Friday proposed to make a one-off Return of Value to Shareholders of 48.7 pence per existing ordinary share, equivalent to approximately 75 million pounds or approximately 10.8 percent of Computacenter's current market capitalization.
Shareholders will receive one additional B share in place of one existing ordinary share and 9 new ordinary shares in place of every 10 existing ordinary shares on the record date. The shareholders can choose purchase option or alternatively a single B share dividend option, with expected payment date on July 5.
Commenting on the development, Chief Executive Officer Mike Norris said, "The cash-generative nature of Computacenter's business has resulted in a net cash balance in excess of our current needs. This has placed us in a position where we are now able to make the second significant one-off return of value to our shareholders, while maintaining an appropriate balance sheet structure to continue growing the business and serving our clients."
For comments and feedback: editorial@rttnews.com