Street Calls of the Week
LONDON - Prudential plc (LSE:PRU) will issue 2,175,535 new ordinary shares in connection with its scrip dividend alternative for the 2025 first interim dividend, according to a company statement released Tuesday.
The scrip dividend relates to the previously announced first interim dividend of 7.71 US cents per ordinary share. The new shares will be issued on the Hong Kong line only and will rank equally with existing ordinary shares when issued.
Of the total new shares, 704,332 will be sold through a share dealing facility established for United Kingdom shareholders who cannot provide a Hong Kong address or qualifying brokerage account details, which are required for holding shares on the Hong Kong line.
Prudential indicated that any minor dilution resulting from the scrip issuance will be neutralized through on-market share buybacks on the London Stock Exchange, consistent with the company’s policy on scrip and staff incentive scheme share issuances.
To participate in the scrip dividend alternative, shareholders needed to hold a minimum of 175 ordinary shares on the September 5 record date.
Prudential, which provides life and health insurance and asset management services across Asia and Africa, maintains dual primary listings on the Hong Kong Stock Exchange (HKEX:2378) and London Stock Exchange, with secondary listings in Singapore and New York.
The company stated that further announcements regarding the listing and admission of the new shares will follow.
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