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LONDON - Costain Group PLC (LSE:COST) has announced the issuance of 432,388 new ordinary shares following shareholder elections to receive shares instead of cash dividends for the year ending December 31, 2024. The company confirmed that these shares will be admitted to the Official List of the UK Listing Authority and will commence trading on the London Stock Exchange (LON:LSEG) around Friday, May 30, 2025.
The decision comes after the approval of the scrip dividend scheme at Costain Group’s 2025 Annual General Meeting. Shareholders had the option to receive their final dividend in the form of new shares rather than cash, and this latest development indicates that a portion of them have chosen the scrip alternative.
The new shares will rank equally with the existing issued shares of the company. The final dividend is scheduled for payment on Thursday, May 29, 2025, and the new shares are expected to be tradable from the following day.
Costain has made available the mandate form and the scrip dividend booklet, which detail the terms of the scrip dividend scheme, on the company’s website. These documents have also been submitted to the National Storage Mechanism, ensuring compliance with regulatory requirements and providing shareholders with the opportunity to review the terms.
The company’s move to offer a scrip dividend option is a common practice among listed companies, allowing shareholders to increase their stake in the company instead of receiving a cash payout. This can be beneficial for both the company and shareholders, as it can help conserve cash for the company and offer shareholders a tax-efficient form of dividend.
This announcement was made in a press release statement and does not suggest any broader industry trends or impacts. Investors interested in the specifics of the scrip dividend scheme or the new share issuance can refer to the documents provided by Costain Group for further details.
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