Announcement
MKTUPDTE: PGW: Guidance and dividend policy update
08:30am
PGW
22/10/2019 08:30
MKTUPDTE
PRICE SENSITIVE
REL: 0830 HRS PGG Wrightson Limited
MKTUPDTE: PGW: Guidance and dividend policy update
PGG Wrightson Limited* (PGW) Chairman Rodger Finlay announced today ahead of
the annual shareholders meeting that "Whilst it remained too soon to provide
firm guidance about expectations for FY2020, the Board reaffirmed confidence
that PGW would achieve Operating EBITDA in excess of $30 million (before
adjusting for the impact from the new accounting standard for leases:
IFRS16)."
Mr Finlay also noted that "It is timely to comment on dividend expectations
and update the market following settlement of the Seed and Grain transaction
and completion of the capital distribution and share consolidation finalised
earlier this year. Following these transactions the Board has undertaken a
review of PGW's existing dividend policy and has determined that the policy
remains suitable and appropriate. Although a decision on the interim
dividend would not be made until the release of PGW's half-year results in
February, it is the expectation of the Board that an interim dividend of not
less than 8 cents per share would be declared based on trading performance
remaining within current guidance."
"We would also anticipate to be in a position to provide a further update on
full-year guidance and the final dividend prospects when announcing our
half-year results in February 2020." Mr Finlay said.
Ends
For all media enquiries please contact
Julian Daly
General Manager, Corporate Affairs
PGG Wrightson Ltd
Mobile: +64 27 5533373
End CA:00342968 For:PGW Type:MKTUPDTE Time:2019-10-22 08:30:49
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