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Briscoe Makes Special Dividend Payment Amid Strong Sales

Briscoe Group Limited (NZX/ASX code: BGP)

The directors of Briscoe Group Limited announce that today they resolved to pay shareholders a special fully imputed dividend of 6.0 cents per share.

The dividend will be paid on Wednesday 20 January 2021 with the share register closing to determine entitlements to the dividend at 5pm on 24 December 2020. The special dividend payment also includes a supplementary payment to overseas shareholders of $0.010588 per share.

Board Chair, Dame Rosanne Meo said, “We’re delighted to be able to provide this additional return to our shareholders in a year which has produced incredible highs and lows. The Group’s cash position is very strong as a result of the previously cancelled $28 million dividend back in March but also from the continued exceptional trading experienced since New Zealand came out of lockdown in May.

“This sustained performance assisted us in being able to repay all of the $11.5 million of wage subsidy for which we received a huge amount of positive customer and shareholder feedback. We’re extremely proud of how we supported our employees in full through-out this difficult year and there were no redundancies or permanent store closures.

“As I commented in our 3rd quarter sales announcement made early November, the results being produced are a real credit to the team led by Rod. The energy and success of the team in continuing with new developments and initiatives during this extraordinary period has far exceeded the Board’s expectations.”

Group Managing Director, Rod Duke said, “Trading has continued to be strong as we approach the half-way stage of our crucial final quarter. Our Black Friday promotions produced record sales for the Group which augurs well for trading in the lead-up to Christmas and through to our year-end on 31 January 2021. I am confident that with the current trading momentum we can produce a full-year result in excess of the $62.6 million reported for the year ended January 2020.”

The Group is due to report its 4th quarter sales on Tuesday 9 February 2021 and its full-year results, including announcement of final dividend, on Tuesday 16 March 2021.

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