Brief: Reliance Worldwide Says Expect FY24 Revenues To Be Down By Low Single Digit Percentage Points

Reliance Worldwide

19/02/2024 01:29

Feb 19 (Reuters) - Reliance Worldwide Corporation Ltd
 RWC.AX :
    * TOTAL INTERIM DISTRIBUTION OF US4.5 CENTS PER SHARE
DECLARED
    * EXPECTED THAT FUTURE DIVIDENDS WILL GENERALLY BE EITHER
UNFRANKED OR ONLY PARTLY FRANKED
    * INTENTION IS TOTAL DISTRIBUTION AMOUNT FOR A PERIOD WILL
BE
ALLOCATED ABOUT 50% TO CASH DIVIDEND, 50% TO ON-MARKET SHARE
BUY-BACKS
    * TOTAL INTERIM DISTRIBUTION AMOUNT COMPRISES UNFRANKED
INTERIM
CASH DIVIDEND OF US2.25 CENTS PER SHARE
    * TOTAL INTERIM DISTRIBUTION AMOUNT COMPRISES UNDERTAKING OF
ON-MARKET SHARE BUY-BACK FOR US$17.8 MILLION
    * AT A CONSOLIDATED LEVEL, EXPECTS REVENUES WILL BE DOWN BY
LOW
SINGLE DIGIT PERCENTAGE POINTS IN FY24
    * CONTINUE TO TARGET STABLE OPERATING MARGINS FOR FULL YEAR
    * REMAIN CAUTIOUS ABOUT ECONOMIC OUTLOOK FOR THE BALANCE OF
FY24
    * CAPITAL EXPENDITURE IS EXPECTED TO BE IN RANGE OF $50
MILLION TO
$55 MILLION
    * COST SAVING MEASURES TO DELIVER $20 MILLION IN SAVINGS FOR
FULL
YEAR
    * SEES FY24 DEPRECIATION AND AMORTISATION EXPENSE TO BE
RANGE OF
$50 MILLION TO $55 MILLION
    * FY24 NET INTEREST EXPENSE IS EXPECTED TO BE IN THE RANGE
OF $26
MILLION TO $29 MILLION

Source text for Eikon:  ID:nASX2Tr5dt 
Further company coverage:  RWC.AX 

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