Ireland
UK
Scotland
London
Leading building materials supplier CRH plc has said it is to withdraw its scrip dividend offer.
On 26 August CRH announced an Interim Dividend for the year ending 31 December 2008 of 20.5% Ordinary Share, and subsequently a Scrip Dividend Offer at a price of €18.37 per Share.
Since then, continuing market volatility has resulted in a decline in the value of CRH shares, which makes the 2008 Interim Scrip Dividend Offer unattractive compared to CRH's current share price.
As it is not possible under the Articles of Association of the Company to reset the price, the board has decided, in the interests of shareholders, to withdraw the 2008 Interim Scrip Dividend Offer, and to pay the Interim Dividend of 20.5% Ordinary Share wholly in cash on 31 October 2008.
The board intends to offer a Scrip Dividend Alternative for future dividends, according to a spokesperson.
(PR/JM)
