Panther Securities to pay special dividend following 'exceptional sales'
Property investment firm Panther Securities announced a special dividend on Wednesday after experiencing its "best year" in terms of cash generation and realisation.
Panther will pay a special dividend of 15p per share to shareholders on 17 January 2019 as a result of the "exceptional sales" in the period, as well as the group's prospects for the subsequent period.
The firm expects to pay a total of "no less than 12p per share" for the year ending 31 December.
"As mentioned in our interims, 2018 is likely to be the best year that the group has ever experienced, in terms of real cash generated and realisations from sales of property," said Panther.
Looking forward, the group said: "Even with the additional payouts for dividends, we remain in a strong position to weather uncertain economic conditions and have funds available to take advantage of investment opportunities for the long-term benefit of our shareholders."
The AIM-listed outfit revealed it had completed a deal to lease out its Maldon industrial building at £650,000 per year for the next three years from November 2018. Panther also noted space was still available at the site - allowing it to yield further rentals when let.
As of 1040 GMT, Panther shares picked up 4.11% to 380p.