Galliford Try Holdings PLC Settlement Agreed and Special Dividend (0095C)
June 08 2023 - 2:00AM
UK Regulatory
TIDMGFRD
RNS Number : 0095C
Galliford Try Holdings PLC
08 June 2023
GALLIFORD TRY HOLDINGS PLC
THURSDAY 08 JUNE 2023
Settlement agreed with major infrastructure fund and
announcement of Special Dividend
Galliford Try Holdings plc, the UK construction group, today
announces that it has agreed settlement terms in respect of its
long-standing dispute concerning three contracts with entities
owned by a major infrastructure fund. The settlement brings to a
conclusion a complex and challenging multi-contract dispute . As a
result of the settlement Galliford Try will receive a cash payment
of GBP26m and anticipates reporting a one-off non-cash write-off of
cGBP3m in the current financial year.
Given the Group's strong balance sheet, and consistent with its
established capital allocation objectives, the Group intends to
return to shareholders a substantial proportion of the proceeds
over time while retaining an element of the proceeds to invest in
its growth strategy. Accordingly, the Board has decided to declare
a Special Dividend of 12 pence per share, payable following
publication of the Group's results for the financial year ending 30
June 2023. The form and amount of any additional return will be
considered by the Board in due course. The Special Dividend will be
paid on 27 October 2023 to shareholders on the register as at 6
October 2023. The ex-dividend date is 5 October 2023.
The person responsible for making this announcement on behalf of
Galliford Try is Kevin Corbett, General Counsel & Company
Secretary. This announcement contains inside information.
For further enquiries please contact:
Bill Hocking, Chief Executive
Andrew Duxbury, Finance Director
Galliford Try Kevin Corbett, General Counsel & Company Secretary 01895 855001
Note to Editors
Galliford Try is a leading UK construction group listed on the
London Stock Exchange. Operating as Galliford Try and Morrison
Construction, the Group carries out building and infrastructure
projects with clients in the public, private and regulated sectors
across the UK.
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCZZGGVVNVGFZM
(END) Dow Jones Newswires
June 08, 2023 02:00 ET (06:00 GMT)
Galliford Try (LSE:GFRD)
Historical Stock Chart
From Sep 2024 to Oct 2024
Galliford Try (LSE:GFRD)
Historical Stock Chart
From Oct 2023 to Oct 2024