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LONDON - IMI (LON:IMI) plc, the specialist engineering company, has issued a correction regarding the record date for its final dividend for the year ended December 31, 2024. The corrected record date is now set for April 4, 2025, with the final dividend payment scheduled for May 16, 2025.
The announcement, made on February 28, 2025, amends the previously communicated record date and confirms the election date for the Dividend Reinvestment Plan (DRIP). Shareholders must elect to participate in the DRIP by April 24, 2025, if they wish to have their cash dividend payments used to purchase additional company shares.
The Board of Directors has recommended a final dividend of 21.1 pence per share, an increase from the previous year’s 19.2 pence per share. The total cost of the final dividend is estimated to be approximately £53.9 million. This, combined with the interim dividend of 10.0 pence per share paid in September 2024, brings the total distribution for 2024 to 31.1 pence per share.
The dividend increase reflects the company’s performance and is in line with IMI’s policy to provide sustainable returns to shareholders. The final proposed dividend has not been reflected in the December 31, 2024, balance sheet in accordance with IAS10 ’Events after the Balance Sheet date.’
This correction ensures that shareholders are accurately informed of the necessary dates to participate in the dividend payments and the DRIP. IMI has advised shareholders to consult www.shareview.co.uk/info/drip for more information on the DRIP, which is managed by Equiniti Financial Services Limited.
The information provided in this article is based on a press release statement from IMI plc.
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