News: RWC Reliance Worldwide Says Expect FY24 Revenues To Be Down By Low Single Digit Percentage...

Feb 19 (Reuters) - Reliance Worldwide Corporation Ltd (RWC) :

• TOTAL INTERIM DISTRIBUTION OF US4.5 CENTS PER SHARE DECLARED
• EXPECTED THAT FUTURE DIVIDENDS WILL GENERALLY BE EITHER UNFRANKED OR ONLY PARTLY FRANKED
• INTENTION IS TOTAL DISTRIBUTION AMOUNT FOR A PERIOD WILL BE ALLOCATED ABOUT 50% TO CASH DIVIDEND, 50% TO ON-MARKET SHARE BUY-BACKS
• TOTAL INTERIM DISTRIBUTION AMOUNT COMPRISES UNFRANKED INTERIM CASH DIVIDEND OF US2.25 CENTS PER SHARE
• TOTAL INTERIM DISTRIBUTION AMOUNT COMPRISES UNDERTAKING OF ON-MARKET SHARE BUY-BACK FOR US$17.8 MILLION
• AT A CONSOLIDATED LEVEL, EXPECTS REVENUES WILL BE DOWN BY LOW SINGLE DIGIT PERCENTAGE POINTS IN FY24
• CONTINUE TO TARGET STABLE OPERATING MARGINS FOR FULL YEAR
• REMAIN CAUTIOUS ABOUT ECONOMIC OUTLOOK FOR THE BALANCE OF FY24
• CAPITAL EXPENDITURE IS EXPECTED TO BE IN RANGE OF $50 MILLION TO $55 MILLION
• COST SAVING MEASURES TO DELIVER $20 MILLION IN SAVINGS FOR FULL YEAR
• SEES FY24 DEPRECIATION AND AMORTISATION EXPENSE TO BE RANGE OF $50 MILLION TO $55 MILLION
• FY24 NET INTEREST EXPENSE IS EXPECTED TO BE IN THE RANGE OF $26 MILLION TO $29 MILLION