PRL Global Ltd Declares Second Special Dividend for 2024
PRL GLOBAL LTD (PRG) Share Update July 2024 Monday 29th
PRL Global Ltd Announces Second Special Dividend
PRL Global Ltd (ASX: PRG) has announced a second special dividend of AUD 0.05 per share, following the first special dividend paid earlier this year.
Instant Summary:
- Second special dividend of AUD 0.05 per share.
- Ex-Date: 1 August 2024.
- Record Date: 2 August 2024.
- Payment Date: 30 September 2024.
- First special dividend was paid on 31 January 2024.
Dividend Announcement Details
PRL Global Ltd (ASX: PRG) has announced a second special dividend of AUD 0.05 per share. This follows the first special dividend that was paid on 31 January 2024. The company has confirmed the Ex-Date for the second special dividend as 1 August 2024, and the Record Date as 2 August 2024, which was previously announced as 31 July 2024.
The payment date for this dividend is set for 30 September 2024. The dividend is fully franked, with a corporate tax rate for franking credit at 30%. This means that shareholders will receive the full benefit of the dividend without any additional tax liabilities.
Shareholder Approval and Financial Impact
Shareholder approval for this special dividend was received at the Annual General Meeting held on 22 November 2023. The total dividend payment amount per security is AUD 0.05, and the distribution does not relate to a specific period within the financial year.
This special dividend is part of PRL Global Ltd's strategy to return value to its shareholders. The fully franked nature of the dividend ensures that shareholders can maximize their returns, benefiting from the company's strong financial performance.
The announcement of the second special dividend is likely to have a positive impact on PRL Global Ltd's stock price. Special dividends are often seen as a sign of a company's strong financial health and its commitment to returning value to shareholders. The fully franked status of the dividend further enhances its attractiveness to investors.
Given the timing of the announcement and the upcoming Ex-Date, we can expect increased trading activity in PRL Global Ltd shares as investors position themselves to benefit from the dividend. Overall, this announcement should bolster investor confidence and potentially attract new investors looking for stable dividend-paying stocks.
Investor Reaction:
Initial reactions from investors and analysts have been positive. Many see the special dividend as a testament to PRL Global Ltd's robust financial standing. 'This second special dividend underscores the company's commitment to rewarding its shareholders,' said one analyst. 'It's a strong signal of confidence in their ongoing operations and future prospects.'
Conclusion:
Investors should take note of the key dates associated with this dividend announcement and consider the potential benefits of holding PRL Global Ltd shares. The company's decision to issue a second special dividend in 2024 highlights its strong financial performance and dedication to shareholder returns. As always, investors should stay informed and consider the long-term impacts on their portfolios.