The merger of IOOF and Australian Wealth Management (AWM) has paid dividends for shareholders, with the company today announcing a special dividend at the upper end of the spectrum indicated in its merger scheme earlier this year.
The directors announced that shareholders would receive a special dividend of 13 cents per share fully franked and with a record date of July 16 and payable on July 31.
The merger scheme booklet, released in March, indicated an intention to pay a special dividend of between 9 cents and 14 cents a share.
The company will release its first full-year results as a merged entity on August 26.
