Ann: Dividend/Distribution - WPP, page-3

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davidguy1973

35 Posts.

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23/04/21

10:18

Post #: 52672171
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Originally posted by carrmick: ↑

Seems there is no end to the cynical tricks the corporates will get up to. I just found out that shares bought after the 4.4 cent dividend ex date will only be paid out at 65.6 cents. This means in effect you are being paid as if you also received the 4.4 cent dividend declared earlier in the year.
Just another example of the duplicity of the corporate fraternity. It actually means there are two classes of shares in the buyout depending on when they were purchases. Prior to March 30 receives a 20 cent dividend but after that date you only receive 15.6 dividend but are treated as if you also received the earlier 4.4 cent dividend. I believe this was not articulated clearly enough in all the Scheme correspondence. These are the matters that ASIC should see as obscure and cynical IMO.

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Paragraph 3 of the announcement of 10 March 2021:

Consideration offered under the Scheme is unchanged at A$0.70 per WPP AUNZ share, which will be reduced by the amount of any permitted dividends paid or declared in 2021 prior to the Scheme. This includes the dividend of A$0.044 per share declared as part of the FY20 result on 25 February 2021.

Seems pretty clear to me ? You may have missed it but it's hardly "Just another example of the duplicity of the corporate fraternity."

WPP Price at posting: 65.5¢ Sentiment: Hold Disclosure: Held
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