GGRAsia – GTech declares interim dividend of US$0.92

GTech declares interim dividend of US$0.92

Dec 18, 2014 Newsdesk Industry Talk, Latest News

Italian lottery supplier GTech SpA announced on Wednesday a EUR0.75 (US$0.92) per share interim dividend, payable on January 21, 2015, for a total payout of approximately EUR130 million.

“The dividend is payable to all outstanding shares, including those currently being offered to shareholders through January 9, 2015, resulting from the exercise of cash exit rights,” the company said in a statement.

The board resolution was based on GTech’s financial statements as of November 30. As of that date, the firm reported year-to-date net profit of EUR227 million, and total equity and liabilities of EUR5.6 billion, according to Wednesday’s statement.

GTech is in the process of acquiring U.S.-based International Game Technology (IGT) for US$6.4 billion. The deal is due to be completed in the first half of 2015.

“Shareholders who validly exercised their cash exit rights are not entitled to receive the dividend,” the lottery supplier said.

The Italian firm said the dividend distribution was agreed to by IGT in accordance with the terms of the merger deal.

“The parties have agreed that such dividend should be paid on or after January 15, 2015, in lieu of the ordinary course dividends that may otherwise be paid by GTech in accordance with the merger agreement,” GTech said.

IGT and the lottery firm further agreed that GTech shall not pay any other dividend to its shareholders prior to the closing of the transaction.

GTech also said in the statement it had reorganised its Italian units by transferring a number of holdings to its fully owned Lottomatica Holding Srl subsidiary.