Umgeni/Outsors latest
- From: Vol 3, Issue 4 (April 2002)
- Category: General
- Region: Africa
- Country: South Africa
- Related Companies: Umgeni Water
THE SOUTH AFRICAN WATER UTILITY, UMGENI WATER has suspended, but not abandoned, plans to interdict Specialised Outsourcing (Outsors) from paying a 125c per share dividend to its shareholders, following legal advice not to pursue the issue.
Outsors’ share price nearly doubled in the week after it announced a 37c final dividend plus a further cash payout of 88c per share. CEO David McLean said the firm had enough cash to meet its capital requirements, and that it made sense to return a substantial amount of its reserves to shareholders.
However, Umgeni and Outsors are involved in ...
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