IPL announces details for return of ~$500 million to shareholders

Incitec Pivot Limited (ASX:IPL) today confirmed the details and timetable for its ~$500 million return of surplus capital to shareholders. At the 2023 Annual General Meeting on 20 December 2023, IPL shareholders voted in favour of reducing IPL’s share capital by up to $500 million by way of an equal capital reduction.

IPL confirms that ~$500 million will be returned by way of: 

• a $0.1557 per share equal capital reduction, totalling $302,404,437.02 in aggregate; and
• an unfranked special dividend of $0.1017 per share, totalling $197,524,285.45 in aggregate.

Read the full ASX release here.