one for the books: special dividend

Sydney - Wednesday - Nov 12: (RWE Australian Business News) -
Servcorp Ltd (ASX:SRV) is to pay a fully franked special dividend of 5c
a share, in addition to the fully franked ordinary dividends totalling
15c paid out of the company's 2008 year profits.
Based on the first-quarter results to September 30, the company
has also confirmed it is on target to meet its forecast 5pc operating
profit growth for the 2009 financial year.
Announcing the special dividend today at Servcorp's annual
meeting, chairman Mr Bruce Corlett said, "this dividend will be paid on
10 December as a further reward to our shareholders.
"The payment of this $4.0m special dividend reflects the
company's healthy cashflow and balance sheet, and also the positive
start the company has made to the 2009 financial year.
"It is worth noting that our annual dividends have risen from
7.5c per share in the 2004 year to the current level.
"We are proud of this achievement."
The special dividend will be paid on December 10 to shareholders
on the register at November 24.
Mr Corlett went on to say, "in order to allow shareholders to
plan for the future, it is directors' current intention to pay ordinary
fully franked dividends of not less than 20c per share in respect of the
financial years ending 30 June 2009 and 30 June 2010.
"Should Servcorp's earnings over this period continue to
increase in accordance with recent trends, directors will consider
raising the dividend rate by between 5pc and 10pc."
Servcorp operates 72 floors in 22 cities across 13 countries and
says it remains the leader in providing serviced offices and superior IT
and business solutions.