{"id":24353,"date":"2023-10-04T17:16:43","date_gmt":"2023-10-04T17:16:43","guid":{"rendered":"https:\/\/microloannexus.com\/investing\/theworks-co-uk-considering-buybacks-after-resolution-to-approve-dividend-fails\/"},"modified":"2023-10-04T17:16:44","modified_gmt":"2023-10-04T17:16:44","slug":"theworks-co-uk-considering-buybacks-after-resolution-to-approve-dividend-fails","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=24353","title":{"rendered":"TheWorks.co.uk Considering Buybacks After Resolution to Approve Dividend Fails"},"content":{"rendered":"
\n

By Anthony O. Goriainoff<\/p>\n\n

TheWorks.co.uk said that it won’t pay a final dividend as the resolution to declare a final 1.6 pence a share dividend failed to pass at its annual general meeting.<\/p>\n

The U.K. retailer said the resolution got 35.35% of votes cast.<\/p>\n

\n

The company said it had received a variety of shareholder views on the proposed dividend, and that it will now consult further with them over alternative capital distributions, including share buybacks.<\/p>\n

“Some significant shareholders expressed a preference for share buybacks over dividends and have since voted against this resolution,” the company said.<\/p>\n

The company also said the three resolutions related to the general allotment authority and the authorities to disapply preemtpion rights were passed with a low vote count. It added that it will now engage with shareholders to understand the reasons for the voting results.<\/p>\n

“We remain committed to open and transparent dialogue with shareholders and will now engage further with those that voted against certain resolutions to better understand their views,” Chair Carolyn Bradley said.<\/p>\n

Shares at 0916 GMT were flat at 39.25 pence.<\/p>\n\n

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com<\/p>\n<\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By Anthony O. Goriainoff TheWorks.co.uk said that it won’t pay a final dividend as the resolution to declare a final 1.6 pence a share dividend failed to pass at its annual general meeting. The U.K. retailer said the resolution got 35.35% of votes cast. The company said it had received a variety of shareholder views<\/p>\n","protected":false},"author":1,"featured_media":9638,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-24353","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"\nTheWorks.co.uk Considering Buybacks After Resolution to Approve Dividend Fails | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"By Anthony O. 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