IMI continues to rise on cash return

18th Feb 2014 09:07

IMI shares were once again rising strongly on Tuesday, extending the previous day's gains after the group announced a cash return to shareholders. The global engineering group confirmed it would pay a dividend of 200p on its C shares, and announced the redemption of B shares for the same price. The move followed the sale of both its beverage dispense and merchandising divisions for a total of $1.1bn. The share price has risen from 1,469p at the start of the week to 1,539p at 09:15 Tuesday. NR