Seven Group Holdings announces post-transaction dividend of 30 cents per share

Company News

by Glenn Dyer

The Stokes family's Seven Group Holdings (ASX:SVW) has followed through on a commitment made in April during its takeover of the minorities in Boral, announcing a post-transaction dividend of 30 cents per share.

Seven Group informed the ASX on Thursday that the fully franked final dividend would bring total dividends for the year ending June to 53 cents per share, a record amount.

"The dividend represents a 30% increase compared to the prior period, resulting in total dividends payable on ordinary shares for the year ending 30 June 2024 of 53 cents per share," Seven Group stated.

The dividend has an ex-dividend date of 19 August 2024 and will be paid to all shareholders of record as of 20 August 2024, on 2 September 2024.

"This 30 cents per share fully franked FY24 Final Dividend fulfills the commitment made by SGH to pay a post-transaction dividend, as outlined in section 4.2 of the 4th Bidder’s Statement, announced to the market on 12 April 2024," the company noted in the ASX release.

Seven Group is scheduled to release its 2023-24 results on 14 August 2024.

Glenn Dyer

Glenn Dyer has been a finance journalist and TV producer for more than 40 years. He has worked at Maxwell Newton Publications, Queensland Newspapers, AAP, The Australian Financial Review, The Nine Network and Crikey.

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