Business
Pension Surplus and Dividend Declaration
Pension Surplus and Dividend Declaration.
About this update from Smiths News Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5774U\n Smiths News PLC\n 06 December 2021\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 6 December 2021\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n This document contains insider information\n \n \n \n \n \n Smiths News plc\n \n \n \n \n \n (\"the Company\")\n \n \n \n \n \n Receipt of pension surplus and increased final dividend for FY2021\n \n \n \n \n \n The Company is pleased to announce that on 3 December 2021 it received a sum of £8.1m representing the present cash surplus (net of professional fees and tax) resulting from the expected winding up of the WHSmith Pension Trust (News section), which is nearing conclusion following the buyout of the scheme by Legal & General in March 2021. Consistent with the terms of our banking agreements, the cash proceeds will be used to reduce bank net debt.\n \n \n \n \n \n The Board has also revised the final dividend recommendation for FY2021 to 1.15p per ordinary share from the previously announced 1.0p within the full year results published on 4th November 2021. \n This will result in a total dividend for the year of 1.65p (FY2020: nil p). Subject to approval at the Company's AGM on 20 January 2022, the final dividend is expected to be paid on 10 February 2022 to all shareholders who are on the register at the close of business on 14 January 2022; the ex-dividend date being 13 January 2022.\n \n \n \n \n \n Enquiries:\n \n \n \n \n \n \n \n \n Smiths News PLC\n \n \n Jonathan Bunting, Chief Executive Officer\n \n \n Paul Baker, Chief Financial Officer\n \n \n \n \n \n \n \n Via Buchanan\n \n \n \n \n \n \n www.corporate.smithsnews.co.uk\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Buchanan\n \n \n Richard Oldworth / Jamie Hooper / Toto Berger\n \n \n \n smithsnews\n \n \n @buchanan.uk.com\n \n \n \n \n www.buchanan.uk.com\n \n \n \n \n \n \n \n \n 020 7466 5000\n \n \n \n \n \n \n \n \n About Smiths News PLC\n \n \n \n \n \n Smiths News PLC and its core business, Smiths News, is the UK's largest newspaper and magazine wholesaler, with an approximate 55 per cent. market share. It distributes newspapers and magazines on behalf of the major national and regional publishers, delivering to approximately 24,000 customers across England and Wales on a daily b...