18 June 2015
Tristel plc
("Tristel" or the "Company")
Special Dividend and notice of results
Tristel plc (AIM: TSTL), the manufacturer of infection prevention, contamination control and hygiene products declares a special dividend of three pence per share payable on 6 August 2015 to shareholders on the register on 26 June 2015. The corresponding ex-dividend date is 25 June 2015. The Company expects to declare a final dividend for the year at the time of the preliminary results which are expected to be announced on 12 October 2015.
Francisco Soler, Chairman, comments: "As I stated in February in our half yearly report, my philosophy is that our business should return to shareholders cash which is not required for future earnings enhancing investments. We continue to generate significant levels of cash after capital expenditure, interest, tax and ordinary dividends paid in accordance with our stated dividend policy. The prevailing policy is two times cover with one quarter of our expectation for the full year pay-out paid as an interim dividend.
Returning cash to shareholders at this juncture will not be at the expense of investment in the business. We have a more exciting pipeline of new product developments than I have seen at any time in our corporate history. At the same time we are moving forward with regulatory approvals in new, game-changing markets. Also, during the past six months we have devoted a great deal of management time to assessing the challenges of the Biocidal Products Regulation and are now confident that the future costs associated with it will be met comfortably from ongoing cash flow. Accordingly, we have analysed in depth our future cash and investment requirements and concluded that this special dividend is surplus to them.
As stated in our trading update on 21 May 2015, the business is making excellent progress in all of its markets and we view the future with confidence."
For further information please contact:
Tristel plc |
www.tristel.com |
Paul Swinney, Chief Executive Officer |
Tel: 01638 721 500 |
Liz Dixon, Finance Director |
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Walbrook PR Ltd |
Tel: 020 7933 8780 or [email protected] |
Paul McManus |
Mob: 07980 541 893 |
Lianne Cawthorne |
Mob: 07854 391 303 |
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finnCap |
Tel: 020 7600 0500 |
Geoff Nash (Corporate Finance) |
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Giles Rolls (Corporate Finance) |
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Stephen Norcross (Corporate Broking) |
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