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Mantra Group declares no dividend for H2'17

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Mantra Group declares no dividend for H2'17

Mantra Group Ltd. will not be declaring a dividend for the half year ended Dec. 31, 2017 and could choose to pay shareholders a special dividend of up to 23.5 Australian cents per share, deducted from the headline A$3.96 per-share scheme arrangement signed with AccorHotels.

AccorHotels and Mantra Group entered into a A$1.18 billion binding agreement, with the French hotel group offering in October 2017 to pay A$3.96 per Mantra share in cash for the takeover.

A provisional decision on the proposed buyout by the Australian Competition and Consumer Commission was delayed after the watchdog sought additional information from AccorHotels in January.