Mondi PLC - Weybridge, England-based packaging firm - Says its share consolidation is effective, following shareholder approval at its annual general meeting on January 15.
In December, Mondi had approved a special dividend following the sale of Joint Stock Co Mondi Syktyvkar in Russia. Mondi confirmed early in December it had received RUB80 billion, about USD888.8 million, from the sale of Syktyvkar, its last remaining facility in Russia, to Sezar Invest LLC. In line with this, it said it plans to return EUR775 million in the form of the special dividend of EUR1.60. In order to maintain its share price, Mondi said the payout would be accompanied by a share consolation, resulting in shareholders receiving 10 new shares for every 11 existing shares that they hold.
Current stock price: 1,462.00 pence, down 2.0% in London on Monday
12-month change: down 5.1%
By Sophie Rose, Alliance News senior reporter
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