Victoria shareholders back special dividend and Wilding share plan
Shareholders in Victoria have overwhelming backed the scheme that will see them receive a special dividend of £2.92 a share and Geoff Wilding, Victoria executive chairman control half the company.
Of the group's 7,087,730 shares between 3,613,230 and 5,006,403 were cast in favour of the five resolutions but to the general meeting. Between 2,000 and 11,857 shares were cast against the resolutions.
'The board is pleased that such an overwhelming number of shareholders have voted in favour of the resolutions and look forward to further building the business as well as delivering additional returns to shareholders in the future,' says Andrew Harrison, Victoria senior independent non-executive director.
Under the scheme the payment of the dividend on 25 July will oblige Victoria to make a payment to Camden Holdings, a company owned by Camden Trust, of which Wilding is a beneficiary. Camden will then reinvest the money in 7,087,730 new Victoria shares.