TX Group shareholders to receive special dividend thanks to SMG transaction
Shareholders of Zurich-based TX Group will receive a special dividend in each of the next three years. This is made possible by the transaction around the so-called Swiss Market Place Group (SMG), as the group announced on Thursday before the start of its investor day.
SMG had emerged from a merger in recent months (Werbewoche.ch reported). In addition to the TX Group, its competitor Ringier, the insurance company Mobiliar and the financial investor General Atlantic are also involved. The transaction brought a total of CHF 270 million into the TX Group's coffers, half of it in cash.
This cash inflow is now to be distributed to the shareholders. As a basis for a stable dividend policy, the special dividend will be distributed over fiscal years 2021, 2022 and 2023, with the dividend amounting to at least CHF 4.20 per share in each case. In addition, the distribution will be based on free cash flow.
Focus on SMG and JobCloud
At the Investor Day on Thursday, the Group also wants to provide investors with knowledge about the Group's strategic direction, the statement continues. In addition to SMG, the focus will also be on the second strategic investment, JobCloud. Both play a central role for the TX Group.
Overall, 80 percent of TX Group's current businesses have been developed or acquired over the past 20 years, he said. The share of digital sales has risen from 2 percent to 56 percent, he said. (SDA)
