Inghams arrange meeting to approve return of $125m

Company News

by Rachael Jones

Poultry company Inghams Group (ASX:ING) will return funds to shareholders of approximately $125 Million, that's $0.33 per share, expected to comprise entirely of a return of capital.

This is subject to shareholder approval at an Extraordinary General Meeting on 6 December 2018.

The distribution will be the subject of a Class Ruling to be issued by the Australian Taxation Office on the tax treatment of the payments.

A Notice of Extraordinary Meeting of Members, which is the subject of a separate announcement and contains all necessary information for the meeting, will be sent to shareholders today.

If shareholders approve the capital return, it will be paid on 18 December 2018.

Inghams Group (ASX:ING) shares closed 3.56 per cent higher to $4.07 yesterday.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.