Novatti jumps most in 4 weeks on dividend claim from Reckon's unit sale

Novatti

20/05/2022 03:56

** Shares of the Australian payments solutions provider  NOV.AX 
advance as much as 16.3% to A$0.250, on track for their biggest
intraday pct gain since April 20
    ** Co says accounting solutions provider Reckon  RKN.AX  for
which NOV is a major shareholder holding a 19.9% stake, plans to
pay a majority of proceeds from the sale of its unit by way of a
special dividend  urn:newsml:reuters.com:*:nASXbQhNLC
    ** Says the special dividend from the sale of RKN's unit is
expected to result in Novatti receiving a dividend in excess of
A$8 mln ($5.61 mln)
    ** Shares hit their highest levels since May 4 
    ** More than 1.46 mln shares change hands as compared with
the 30-day average volume of ~452,500 shares  
    ** Stock down 28.3% this year as of last close, vs a 4%
decrease in the benchmark S&P/ASX 200 index  .AXJO  



($1 = 1.4251 Australian dollars)

 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))