Dividend Declaration

RNS Number : 6718U

Impax Environmental Markets PLC

30 July 2020

 

IMPAX ENVIRONMENTAL MARKETS PLC (the "Company")

LEI: 213800RAR6ZDJLZDND86

Interim Dividend

30 July 2020

The Board of Impax Environmental Markets plc recognises that, as the Company continues to expand its capital base and issue shares, there is a dilutive effect on the earnings per share if a single dividend is paid annually on all shares in issue at the record date, irrespective of when those shares were issued. This acts to the benefit of those shares which come onto the register towards the end of the period in which the underlying earnings were accumulated, since the earnings available to those shares which have been in issue throughout are diluted by those which have been on the register for only part of the period.

In order to be equitable to all shareholders, and following a similar consideration of paying last year's (single) dividend as an interim rather than a later final, the Board has decided that henceforth it will declare an interim dividend at the half-year stage, with a second dividend payable after the year end. This also reflects the pattern of the Company's expected dividend receipts, as well as providing shareholders the advantage of receiving part of their dividend earlier in the year.

Accordingly, the Board is pleased to announce a first interim dividend for the 2020 financial year of 1.3 pence per Ordinary Share, payable on 28 August 2020 to shareholders who appear on the register on 07 August 2020, with an ex-dividend date of 06 August 2020.  It is the Board's intention to declare a final, or second interim, dividend towards the end of Q1 2021. It remains the Board's policy to pay out substantially all earnings by way of dividend, the quantum of which is affected both by the level of dividends received by the Company and by the number of shares in issue. It is the Board's current expectation that the total dividend for the current year will be lower than the 3 pence per share paid in respect of the 2018 and 2019 financial years.

Enquiries:

PraxisIFM Fund Services (UK) Limited  020 4513 9266

 

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