WPP Scangroup will pay a special interim dividend of Ksh8.00 for every ordinary share held to shareholders on the company register at close of business on 28 July 2020. Reuben Mwangi, WPP Company Secretary, says that the dividend declared will be paid within 30 days from the closing date of the register.
The payout follows the completion of the sale of all of the company’s shareholding (being 100 percent of the issued share) in Millward Brown East Africa Limited, Millward Brown Nigeria Limited, Millward Brown West Africa Limited on June 30, 2020.
In addition, WPP sold its 80 percent of the issued shares in Research and Marketing Group Investment Limited, a Mauritian holding company for Kantar TNS businesses in Kenya, Nigeria, Ivory Coast, Senegal, Ghana, Cameroon, and the UK.
The board met and considered the use of proceeds taking into consideration available distributable reserves, potential expansion, and the ongoing cash requirement for the group.
WPP shareholders approved the sale of all its shareholding in the companies in a virtual meeting held on May 27.