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Windfall for Transact shareholders as dividend hits £27 per share

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Windfall for Transact shareholders as dividend hits £27 per share

Advisers with shares in platform company Transact will enjoy a dividend payout of up to £27 per share this month as the company nears its goal of listing on the stock market.

Transact recently informed investors the share price for 2017, which dictates this month’s payout, is £17.18. The company told New Model Adviser® it would be paying this in the next few days and would also be paying a special dividend of £10 per share in the coming weeks.

Last year the dividend pay out was £12 per share.

Many of the advisers that use the Transact platform are also shareholders and have been for over 10 years.

Transact has a policy to pay out distributing 65% of pre-tax earnings. This year that equates to paying £19.4 million to shareholders this month.

At the same time Transact announced its dividend price in January 2017 it announced its intention to launch and initial public offering (IPO) in the first half of 2018.

In the January 2018 financial statement sent to investors, the company confirmed it was still on track with this goal.

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