Australia's Midway rises on special dividend plans, refinancing banking facility

Midway

29/11/2023 24:29

** Shares of Australia's Midway Ltd  MWY.AX  rise as much as
3.1% to A$0.845, hitting their highest since May 16  
    ** Stock marks a third consecutive session of gains 
    ** The woodfibre processing firm declares a special dividend
of 5 Australian cents per share fully franked 
    ** Co also announced refinancing of banking facilities with
the Commonwealth Bank of Australia 
    ** Says revised facilities consist of a trade finance
facility allowing drawings of up to A$35 mln ($23.30 mln) that
will permit co to support cyclical working capital build-ups
    ** Stock down 13.7% this year, as of last close

   ($1 = 1.5024 Australian dollars)

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))