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Annual Report & Accounts 2009 - Chairman's Statement
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6 Dividend The Group paid an interim dividend of c0.20 per share in November 2009 and announced in January 2010 that it expected, following the redomiciliation and in the absence of unforeseen circumstances, to declare a special dividend of not less than c0.50 per share in lieu of the normal final dividend for the year ended 31 December 2009. It is expected that any such dividend will be payable in June 2010. The level of Gaming VC's future dividends will be affected by the Group's strategic initiatives and as previously announced, profits for 2010 are expected to be materially lower than in 2009. However, the Group intends to continue to pay out approximately 75% of net cash generated by way of dividend, subject, in 2012, to being able to fund the expected deferred consideration due in respect of the acquisition of Betboo. More detail on this is included in the Report of the Finance Director. Current trading and future prospects The first three months of 2010 have been broadly in line with budget. Group revenues were c14.8 million, slightly down on 2009. Whilst the gaming industry continues to face challenging economic conditions the Board believes that we have the right team and strategy in place to trade through this and to continue to pay dividends to our shareholders. Lee Feldman Non-Executive Chairman 16 April 2010