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Sep 21 2021, 08:05 IST/BST
Travis Perkins (TPK) has confirmed the imminent completion of the sale of its Plumbing & Heating (P&H) division. This will realise the group’s strategic ambition to streamline its operations and refocus on the trade sector. This leaves it with a market leading position in building distribution and a growth angle via Toolstation. Proceeds from the disposal will effectively be handed back to shareholders, enhancing the attraction of TPK from an income perspective. This process will start in October, with a special dividend per share of 35p (2% yield at the current price) and the commencement of a £100m share buyback (just over 2.5% of the current market capitalization).
Sep 21 2021, 08:05 IST/BST