Business
Maiden Interim Dividend
Maiden Interim Dividend.
About this update from Plexus Holdings
[{"type":"text","content":"\n RNS Number : 0078U Plexus Holdings Plc 17 June 2009 \n \nPlexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services\n17 June 2009 \nPlexus Holdings PLC ('Plexus' or 'the Company') \nMaiden Interim Dividend\n\nPlexus Holdings PLC, the AIM listed oil and gas engineering services business, is pleased to announce a maiden interim dividend of 0.3118 pence per share, which will be paid on 30 June 2009 to shareholders on the register on 26 June 2009. The shares will have an ex-dividend date of 24 June 2009.\n\nIn view of the steady performance of the Company over the past three years, the Board considers it appropriate to initiate a progressive dividend policy commencing with the payment of this first dividend, having taken into account existing cash flow, capex commitments, and the Company's current prospects. The Board intends, subject to this years trading results, the economic outlook, and the availability of distributable reserves, to recommend a final dividend at the end of the financial year.\n\nThe total interim dividend amounts to £250,000.\n\nPlexus CEO Ben van Bilderbeek said: 'We are pleased that Plexus has achieved another milestone by initiating the payment of dividends. Furthermore, I believe that it is important for our shareholders to recognise that our proprietary POS-GRIP® rental equipment inventory has a longer economic life than our seven year depreciation policy suggests. As our terms and conditions provide for operators having to repair and replace components damaged beyond normal wear and tear, this policy will help underpin, subject to market conditions, our ability to generate free cash flow and generate resultant dividend yield over the coming years.'\n\n* * ENDS * *\n\nFor further information please visit www.posgrip.com or contact: \n \n\n\n\n\nBen van Bilderbeek\n\n\nPlexus Holdings PLC \n\n\nTel: 020 7795 6890\n\n\n\n\nGraham Stevens\n\n\nPlexus Holdings PLC\n\n\nTel: 020 7795 6890\n\n\n\n\nAlex Dewar\n\n\nBrewin Dolphin\n\n\nTel: 0845 213 2076\n\n\n\n\nFelicity Edwards\n\n\nSt Brides Media & Finance Ltd\n\n\nTel: 020 7236 1177\n\n\n\n\nIsabel Crossley\n\n\nSt Brides Media & Finance Ltd\n\n\nTel: 020 7236 1177\n\n\n\n\n\nNotes\nPlexus H...