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InterContinental shareholders approve share consolidation, special dividend

InterContinental Hotels Group PLC shareholders approved the hotel company's proposed share consolidation and associated special dividend, as well as its share repurchase program.

The company will issue the special dividend of $2.621 per share or American depositary receipt immediately after the share consolidation. The dividend will be paid Jan. 29 to shareholders of record as of Jan. 11.

Shareholders at the Jan. 11 meeting also approved the repurchase of up to about 10% of the company's new issued share capital, which comes to 187,717,720 new ordinary shares. Trading in the new shares should commence on Jan. 14.