Business
Special Dividend and Share Buyback Programme
Special Dividend and Share Buyback Programme.
About this update from Essentra Plc
ESSENTRA PLC SPECIAL DIVIDEND AND SHARE BUYBACK PROGRAMME Essentra plc ("Essentra" or the "Company"), a leading global provider of essential components and solutions, confirms its intention to return to shareholders, approximately £150m of the residual net transaction proceeds from the disposals of its Filters and Packaging divisions, which completed in Q4 of 2022. Following a recent consultation with a number of the Company's major shareholders, the Board has concluded that the return will be structured through a combination of a special dividend and a share buyback programme. Essentra will pay a special dividend of £90m, representing approximately 29.8 pence per ordinary share (the "Special Dividend"). The Company intends to pay the Special Dividend on 27 April 2023 to shareholders on the register of the Company as at 18:00 (UK time) on 21 March 2023. The ordinary shares will be marked ex-dividend on 20 March 20231. The Board also confirms its intention to recommend a final ordinary dividend for the financial year ended 31 December 2022, adjusted to the earnings of the continuing operations of the Group2. Details will be provided at the time of announcing the full year results on 22 March 2023. In addition to the £90m Special Dividend, the Board intends to initiate a share buyback programme of approximately £60m (the "Share Buyback"), which is expected to commence following the release of the full year results on 22 March 2023. Further detail will be announced immediately prior to commencement of the Share Buyback. Notes: 1 Essentra operates a Dividend Re-Investment Programme ("DRIP"), details of which are available from the Company's Registrars, Computershare Investor Services PLC. The final date for DRIP elections in respect of the Special Dividend will be 4 April 2023. 2 Continuing operations excludes the Filters and Packaging divisions, which will be reported as discontinued operations in accordance with IFRS 5 in the full year 2022 results. Enquiries Essentra plc Jack Clarke, Chief Financial Officer Claire Goodman, Group Investor Relations Manager Emma Reid, Company Secretary Tel: +44 (0)1908 359100 Tulchan Communications LLP Olivia Peters Lisa Jarrett-Kerr Tel: +44 (0)20 7353 4200 Notes to Editors About Essentra plc Essentra plc is a FTSE 250 company and a l...