Australia's Perpetual rises on special dividend plans

Great China Holdings Hong Kong

03/01/2023 24:40

** Shares of fund manager Perpetual Ltd  PPT.AX  climb as
much as 1.3% to A$24.93, hitting their highest since Dec 7
    ** Stock posts its biggest intraday percentage gain since
Dec 22
    ** Co says special dividend is part of the conditions set
out in the scheme implementation deed under deal with Pendal
Group  PDL.AX  
    ** On Dec 23, Pendal shareholders voted in favour of the
proposed acquisition by Perpetual via scheme arrangement
 urn:newsml:reuters.com:*:nFWN33C117
    ** Perpetual on Tuesday says shareholders would receive a
special dividend of 35 Australian cents per share, fully
franked, following regulatory approval  urn:newsml:reuters.com:*:nFWN33K1A5
    ** Says purpose of payout to "bring the dividend periods in
line for shareholders of both Pendal and Perpetual in
preparation for completion of the transaction" targeted for
mid-Jan
    ** Perpetual stock down 32.6% in 2022
 (Reporting by Riya Sharma in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))