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The Motley Fool Australia

Beacon Minerals to return about $30.4 million via 10centpershare fullyfranked dividend and Forrestania share distribution

Beacon Minerals (ASX: BCN) said it will return about $30.4 million to shareholders through a 10centpershare, fullyfranked special dividend and an in-specie distribution of Forrestania Resources (ASX: FRS) shares. The company was valued at $257.5 million at the close of trade on Wednesday, putting the package at roughly 11.8% of its market value. Beacon has pushed its exdividend date to Monday, 13 July, allowing option holders to exercise and enabling new shareholders to participate. Forrestania is also pursuing a scrip takeover of Zenith Minerals (ASX: ZNC) that has been unanimously recommended by Zenith’s board.
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