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STM Group chairman to step down in May

STM Group Plc Chairman Michael Riddell will retire from his post, effective May 23.

Riddell made the announcement in the company's full-year 2017 results, saying he will not stand for re-election during an annual general meeting in May, as he wants to spend more time with his family.

STM Group reported an after-tax profit of just under £4.0 million, up from £2.4 million in 2016. The board recommended a final dividend for the year of 1.2 pence per ordinary share, up from 1.0 pence per share a year earlier, payable June 27 to shareholders on the register June 1.

The proposed final dividend results in a total dividend of 1.8 pence per share, including an interim dividend of 0.6 penny per share, up from 1.5 pence per share in 2016.