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Mondi PLC - Weybridge, England-based packaging firm - Says its share consolidation is effective, following shareholder approval at its annual general meeting on January 15. In December, Mondi had approved a special dividend following the sale of Joint Stock Co Mondi Syktyvkar in Russia. Mondi confirmed early in December it had received 80₽ billion, about $888.8 million, from the sale of Syktyvkar, its last remaining facility in Russia, to Sezar Invest LLC. In line with this, it said it plans to return €775 million in the form of the special dividend of €1.60. In order to maintain its share price, Mondi said the payout would be accompanied by a share consolation, resulting in shareholders receiving 10 new shares for every 11 existing shares that they hold. Current stock price: 1,462.00 pence, down 2.0% in London on Monday 12-month change: down 5.1% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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