John Laing Group plc Adjustments to proposed final dividend (6936H)

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RNS Number : 6936H

John Laing Group plc

14 March 2018

One for three Rights Issue announced on 8 March 2018 - adjustments to proposed final dividend

John Laing Group plc, the international originator, active investor and manager of infrastructure projects, confirms that the new ordinary shares of 10p each to be issued by the Group pursuant to the Rights Issue announced on 8 March 2018 (the Rights Issue Shares) will be eligible for both the proposed final base dividend and special dividend for the year ended 31 December 2017.

As set out in the Rights Issue prospectus, the final base dividend of GBP14.0 million will be increased to include the Rights Issue Shares, while the special dividend of GBP17.9 million will be paid over the enlarged ordinary share capital. The table below shows the dividends in pence per share as adjusted for the Rights Issue:

 
 Proposed final dividend    Before adjustment   After adjustment 
  for 2017                      for Rights         for Rights 
                                  Issue               Issue 
                              (pence/share)       (pence/share) 
-------------------------  ------------------  ----------------- 
 
 Base dividend                    3.82                3.51 
-------------------------  ------------------  ----------------- 
 Special dividend                 4.88                3.66 
-------------------------  ------------------  ----------------- 
 
 Total final dividend                                 7.17 
-------------------------  ------------------  ----------------- 
 

The record date for the total final dividend will be 20 April 2018, with payment due on 18 May 2018. Shareholders will have the opportunity to vote on the proposed total final dividend at the Company's annual general meeting on 10 May 2018.

The total number of shares in issue following the Rights Issue will be 489,280,178.

Further information

Analyst/investor enquiries:

   Patrick O'D Bourke, Group Finance Director             [phone] 
   Stuart Colvin, Group Financial Controller                    [phone] 

Joint Global Coordinators and Joint Corporate Brokers

Barclays Bank PLC

   Neal West                                                                   [phone] 

HSBC Bank plc

   Richard Fagan                                                            [phone] 

This information is provided by RNS

The company news service from the London Stock Exchange

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March 14, 2018 05:47 ET (09:47 GMT)