Judges Scientific PLC Special dividend (1305U)
21 November 2019 - 6:02PM
UK Regulatory
TIDMJDG
RNS Number : 1305U
Judges Scientific PLC
21 November 2019
21 November 2019
Judges Scientific plc
("Judges Scientific", "the Company", or "the Group")
Special dividend
The Board of Judges Scientific today announces that in order to
prioritise the interests of its shareholders it has decided to pay
a special dividend of GBP2.00 per ordinary share, totalling GBP12.4
million.
The Board has assessed the Group's cash resources, its robust
cash generation and the Group's ability to borrow for acquisitions,
which result from a sustained period of strong performance. The
special dividend will absorb a modest proportion of the resources
available to conduct acquisitions and the Board is therefore
confident that this special dividend will not interfere with the
execution of Judges' unchanged buy-and-build strategy.
Payment of the special dividend will be on Tuesday 10 December
2019 to shareholders on the register on Friday 29 November 2019.
The shares will go ex-dividend on Thursday 28 November 2019. The
special dividend will be funded from existing cash balances.
Alex Hambro, Chairman of Judges Scientific, commented:
"The payment of this special dividend is a reflection of our
constant focus on shareholders' interests. Following this payment,
the Group will have returned to shareholders four and a half times
the IPO price."
For further information please contact:
Judges Scientific
David Cicurel, CEO Tel: +44 (0) 20 3829
Brad Ormsby, Group FD 6970
Shore Capital (Nominated Adviser
& Broker)
Stephane Auton Tel: +44 (0) 20 7408 4090
Edward Mansfield
Liberum (Joint Broker)
Bidhi Bhoma Tel: +44 (0) 20 3100 2222
Euan Brown
Media enquiries:
Alma PR (Financial Public Relations)
Rebecca Sanders-Hewett Tel: +44 (0) 20 3405 0205
Sam Modlin judges@almapr.co.uk
Notes to editors:
Judges Scientific plc (AIM: JDG), is a group involved in the buy
and build of scientific instrument businesses. The Group currently
consists of 16 businesses acquired since it was re-admitted to AIM
in 2005.
The acquired companies are primarily UK-based with products sold
worldwide to a diverse range of markets including: higher education
institutions, the scientific communities, manufacturers and
regulatory authorities. The UK is a recognised centre of excellence
for scientific instruments. The Group companies hold five Queen's
Awards for innovation and export.
The Group's companies predominantly operate in global niche
markets, with long term growth fundamentals and resilient
margins.
Judges Scientific maintains a policy of selectively acquiring
businesses that generate sustainable profits and cash. Shareholder
returns are created through the repayment of debt, organic growth
and dividends.
For further information, please visit www.judges.uk.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DIVKMMZMLGNGLZM
(END) Dow Jones Newswires
November 21, 2019 02:02 ET (07:02 GMT)
Judges Scientific (LSE:JDG)
Historical Stock Chart
From Apr 2024 to May 2024
Judges Scientific (LSE:JDG)
Historical Stock Chart
From May 2023 to May 2024