News blog

Best of the Best

• BY: Andrew Hore |
• POSTED: 22/10/2014 |

Competitions organiser Best of the Best is returning £1.32m to shareholders via a special dividend.

The dividend will be 14.5p a share but the company has to restructure its reserves so there are enough distributable reserves.

Net cash improved from £1.95m to £2.36m at the end of April 2014, which was after £541,000 was spent on fixed assets - predominantly £400,000 on the building next to the head office. The final dividend was 10% higher at 1.1p a share.

Management says that there will still be more than £900,000 of cash left after the special dividend.

Best of the Best floated in 2006 at 63p a share and so far it has paid dividends totalling 7.4p a share and £1.18m in cash was returned to shareholders in November 2011 via a tender offer. The share price rose 1p to 66p on the news of the special dividend.

Trading is in line with expectations and the interims will be published on 12 January.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFOctober2014_61.pdf