trending Market Intelligence /marketintelligence/en/news-insights/trending/ei4jXvstnP8seidNfogLCw2 content esgSubNav
In This List

1pm to propose cut in final dividend

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


1pm to propose cut in final dividend

1pm PLC will propose a final dividend of 0.56 pence per ordinary share for the year ended May 31, down from 0.65 pence per ordinary share in the same period in 2018.

The final dividend will be payable Dec. 12 to shareholders on the register Nov. 1, following shareholders' approval at the firm's annual general meeting. The proposed final dividend is in line with 1pm's intention to increase the total annual dividend by roughly 30% per annum in 2018 to 2021 from the 2017 level. The company's AGM is proposed to take place Nov. 6.

Moreover, the British specialty finance firm will issue to vendors 1,388,888 new ordinary shares of 10 pence each in the company. The shares will be subject to various lock-in arrangements for a minimum period of 12 months from the date of issuance.

The shares are expected to be admitted to trading on the London Stock Exchange's AIM on Sept. 4, following which the company's issued share capital will comprise 88,985,316 ordinary shares.

1pm is set to release its audited annual results for the year ended May 31 on Sept. 25.