United Carpets Group plc Special Dividend (7822E)

TIDMUCG

RNS Number : 7822E

United Carpets Group plc

11 May 2017

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) 596/2014 (MAR). ON PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

UNITED CARPETS GROUP plc

Declaration of Special Dividend

United Carpets Group plc ("the Group" or "the Company" or "United Carpets"), the third largest chain of specialist retail carpet and floor covering stores in the UK, is pleased to announce a special dividend of 1.0 pence per share. This dividend will be paid on 25 May 2017 to all shareholders on the register at the close of business on 19 May 2017. The ex-dividend date will be on 18 May 2017

In order for the Company to be in a position to pay the special dividend, it must have distributable reserves. Therefore, in order to satisfy this requirement, the Company has delivered to Companies House its Company unaudited interim results for the six month period ended 30 September 2016 which formed part of the consolidated Group interim results for the six month period ended 30 September 2016 which were previously announced on 16 December 2016.

Paul Eyre, Chief Executive, said:

"We are delighted to be able to declare a special dividend today. This demonstrates the continuing, strong cash generation of the Company, reflecting the improvements made in the business over the last few years and rewards our shareholders for their continued support and loyalty. Dividend distributions will remain an important part of the Board's strategy going forwards and when deciding on future, regular dividend payments, we will consider modest reductions in dividend cover subject to any overriding requirements of the business to fund future growth."

Enquiries:

 
  United Carpets Group plc 
   Paul Eyre, Chief Executive 
   Ian Bowness, Finance Director                         01709 732 666 
 Novella Communications Ltd 
  Tim Robertson 
  Toby Andrews                                           020 3151 7008 
 Cantor Fitzgerald Europe 
  Mark Milmo, Catherine Leftley (Corporate Finance) 
  David Banks (Sales)                                    020 7894 7000 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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May 11, 2017 02:01 ET (06:01 GMT)