Withdrawal of Scrip Dividend

RNS Number : 1209D

Greencore Group PLC

10 September 2008

 

CONTACT

Ms. C.M. BERGIN

TELEPHONE: [phone] FAX: [phone]

GREENCORE GROUP PLC -  ('GREENCORE') - WITHDRAWAL OF SCRIP DIVIDEND OFFER 

On 28th May, 2008 Greencore announced an interim dividend for the year to 26th September, 2008 of 5.30 cent  per ordinary share and subsequently made a Scrip Dividend Offer priced at €3.30 per ordinary share.  

Since then, continuing market volatility has resulted in a significant decline in the value of Greencore shares, which makes the Scrip Dividend Offer unattractive relative to current market prices.

As it is not possible under the Articles of Association of the Company to reset the price, the Directors have decided, in the interests of shareholders, to withdraw the Scrip Dividend Offer and to pay a final dividend of 5.30cent per ordinary share wholly in cash.

In the case of future dividends, it remains the Directors' intention to offer a Scrip Dividend.

Shareholders wishing to increase their holdings, by reinvesting their dividends, may do so by purchasing directly in the market through the low cost dealing service offered by the company's registrar, Computershare.  

C.M. BERGIN

GROUP COMPANY SECRETARY

Greencore Group Plc,

St. Stephen's Green House

Earlsfort Terrace,

Dublin 2

10th  September, 2008

 

END

 

 

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