BBGI declares second dividend, Boswell offer lowered

(Sharecast News) - BBGI Global Infrastructure declared a second interim dividend of 4.2p per share on Thursday, for the period from 1 July to 31 December, in line with its target annual dividend of 8.40p per share. The FTSE 250 firm said the dividend would be paid on 16 April, with an ex-dividend date of 6 March and a record date of 7 March.

No scrip alternative would be available, it confirmed.

As a result of the dividend declaration, the offer price for BBGI's recommended takeover by Boswell Holdings 3 was adjusted.

The original offer of 147.5p per share, announced on 6 February, had been reduced to 143.3p per share to reflect the value of the dividend.

Shareholders on the register as of the record date would be entitled to receive the dividend in addition to the adjusted offer price.

The offer document and notice for the required general meeting were expected to be published on or around 6 March.

At 1100 GMT, shares in BBGI Global Infrastructure were up 0.14% at 142.8p.

Reporting by Josh White for Sharecast.com.