Durodorso plc is a Stock Exchange listed business that has built up a cash mountain, equal in
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Durodorso plc is a Stock Exchange listed business that has built up a cash mountain, equal in size to about 25 per cent of its market capitalisation, as a result of the continuation of restricted dividend policy and a consistent failure to identify investment opportunities.
Since the directors continue to see no investment opportunities, a decision has been made to use the cash to pay a ‘special’ dividend. When the directors met to discuss the special dividend, the finance director told the other directors, ‘We’ve always been modest dividend payers in the past so our shareholders would probably welcome a large dividend.’
What would you advise the directors to do regarding the special dividend?
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As a financial advisor I would advise the directors of Durodorso plc to carefully consider the implications of paying a special dividend before making ...View the full answer
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