REG - Smiths News PLC - Pension Surplus and Dividend Declaration

Smiths NewsAnnouncement

06/12/2021 07:00

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RNS Number : 5774U  Smiths News PLC  06 December 2021

   6 December 2021

 

 

 

This document contains insider information

 

Smiths News plc

 

("the Company")

 

Receipt of pension surplus and increased final dividend for FY2021

 

The Company is pleased to announce that on 3 December 2021 it received a sum
of £8.1m representing the present cash surplus (net of professional fees and
tax) resulting from the expected winding up of the WHSmith Pension Trust (News
section), which is nearing conclusion following the buyout of the scheme by
Legal & General in March 2021. Consistent with the terms of our banking
agreements, the cash proceeds will be used to reduce bank net debt.

 

The Board has also revised the final dividend recommendation for FY2021 to
1.15p per ordinary share from the previously announced 1.0p within the full
year results published on 4(th) November 2021.  This will result in a total
dividend for the year of 1.65p (FY2020: nil p). Subject to approval at the
Company's AGM on 20 January 2022, the final dividend is expected to be paid on
10 February 2022 to all shareholders who are on the register at the close of
business on 14 January 2022; the ex-dividend date being 13 January 2022.

 

Enquiries:

 

 Smiths News PLC

 Jonathan Bunting, Chief Executive Officer                         Via Buchanan

 Paul Baker, Chief Financial Officer
 www.corporate.smithsnews.co.uk

 Buchanan

 Richard Oldworth / Jamie Hooper / Toto Berger                     020 7466 5000

 smithsnews (mailto:smithsnews@buchanan.uk.com) @buchanan.uk.com
 (mailto:smithsnews@buchanan.uk.com)

 www.buchanan.uk.com (http://www.buchanan.uk.com)

 

About Smiths News PLC

 

Smiths News PLC and its core business, Smiths News, is the UK's largest
newspaper and magazine wholesaler, with an approximate 55 per cent. market
share. It distributes newspapers and magazines on behalf of the major national
and regional publishers, delivering to approximately 24,000 customers across
England and Wales on a daily basis. The speed of turnaround and the density of
Smiths News' coverage is critical to one of the world's fastest physical
supply chains.

 

Ancillary businesses include: Dawson Media Direct (DMD) which supplies
airlines and travel points in the UK; and Instore, which offers field
marketing services to retailers and suppliers across the UK.

 

Person responsible for arranging release of this announcement:

Stuart Marriner, General Counsel & Company Secretary

Smiths News plc

Rowan House

Cherry Orchard North

Kembrey Park

Swindon

SN2 8UH

email: cosec@smithsnews.co.uk

LEI: 2138004O33ONVOOQXB02

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