Tomkins tempts shareholders
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.TOMKINS, the industrial conglomerate that owns Smith & Wesson guns and Mr Kipling cakes, is trying to persuade holders of its convertible preference shares to swap to ordinary shares by forecasting an increase of at least 15.2 per cent in its dividend, writes Heather Connon.
The increase would mean the dividend for the year to April would be at least 8.5p a share. Tomkins said that means that if preference shareholders exercise their right to convert, the yield would be equivalent to 6.26 per cent compared to 6.25 per cent on their existing holding.
The preference shares are redeemable in 2013, but holders can opt to convert on 30 September any year until then.
The dividend forecast was accompanied by a statement that trading profit was 'comfortably ahead' of the previous year.
The shares rose 3.5p to 242p.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments