Australia's Incitec Pivot eyes best day in over 6 months on surplus capital return

Dyno Nobel

25/01/2024 01:14

** Shares of Incitec Pivot  IPL.AX  rise as much as 6.3% to
A$2.945, their highest level since Dec 4
    ** Co stock set for best day since July 12, if gains hold
    ** The fertiliser maker confirms return of surplus capital
of A$500 mln ($328.65 mln) to shareholders
    ** Adds that surplus capital will be returned by way of
A$0.1557 per share equal capital reduction and of an unfranked
special dividend of A$0.1017 per share  
    ** About 2.7 mln shares change hands, compared with the
30-day average volume of 5.1 shares
    ** Stock fell 24.5% in 2023

   ($1 = 1.5214 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))