Smiths News PLC Pension Surplus and Dividend Declaration (5774U)

TIDMSNWS

RNS Number : 5774U

Smiths News PLC

06 December 2021

 
   6 December 2021 
 

This document contains insider information

Smiths News plc

("the Company")

Receipt of pension surplus and increased final dividend for FY2021

The Company is pleased to announce that on 3 December 2021 it received a sum of GBP8.1m 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.

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 4(th) November 2021. 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.

Enquiries:

 
 Smiths News PLC 
  Jonathan Bunting, Chief Executive        Via Buchanan 
  Officer 
  Paul Baker, Chief Financial Officer 
 www.corporate.smithsnews.co.uk 
 Buchanan 
  Richard Oldworth / Jamie Hooper 
  / Toto Berger 
  smithsnews @buchanan.uk.com 
  www.buchanan.uk.com                      020 7466 5000 
 

About Smiths News PLC

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 basis. The speed of turnaround and the density of Smiths News' coverage is critical to one of the world's fastest physical supply chains.

Ancillary businesses include: Dawson Media Direct (DMD) which supplies airlines and travel points in the UK; and Instore, which offers field marketing services to retailers and suppliers across the UK.

Person responsible for arranging release of this announcement:

Stuart Marriner, General Counsel & Company Secretary

Smiths News plc

Rowan House

Cherry Orchard North

Kembrey Park

Swindon

SN2 8UH

email: [e-mail]

LEI: 2138004O33ONVOOQXB02

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December 06, 2021 02:00 ET (07:00 GMT)