Special interim dividend of £70m and trading update
MoneySupermarket.com Group PLC ("MoneySupermarket", the "Company" or the "Group") today announces that having reviewed the performance of the Group and the cash required by the business, the Board has concluded that it is appropriate to pay a special interim dividend of 12.92p per ordinary share to be paid on 26 July 2013. The special interim dividend is being used to return funds to shareholders and reflects the Board's confidence in the ability of the business to generate cash on an on-going basis.
Group performance remains in line with the Board's expectations and Group revenues for the year to date are in excess of 10% up on the same period last year.
The special interim dividend is being funded out of cash balances and a bank facility, which is available for general corporate purposes. Further information regarding the bank facility is set out below.
The ex-dividend date for the special interim dividend is 12 June 2013, with a record date of 14 June 2013 and a payment date of 26 July 2013. Shareholders will have the opportunity to elect to reinvest their cash dividend and purchase existing shares in the Company through a Dividend Reinvestment Plan.
Separately, the Company notes that Simon Nixon has today announced his intention to offer for sale up to 80,000,000 existing ordinary 0.02 pence shares of MoneySupermarket, representing up to approximately 14.8% of the issued share capital of the Company. Please refer to the separate announcement for further details.
Gerald Corbett, Chairman of MoneySupermarket, said:
"The Board remains committed to a progressive dividend policy in line with the investment and capital needs of the business. The placing by Simon Nixon will increase liquidity and help normalise the Company's shareholding structure. Simon remains a major shareholder and will continue to play a key role on the Board as the Non-Executive Deputy Chairman."
