Henry Boot blunder denies shareholders final dividend

A blunder by contractor Henry Boot has forced it to withdraw its final dividend to shareholders and replace it with an interim payout.

The firm admitted in an interim management statement this morning that it had intended to put a resolution to shareholders of a final dividend of 2.15p per share at its upcoming AGM on 27 May.

But the resolution was “unfortunately omitted” from the AGM notice sent out on 21 April.

The company said it has now withdrawn the final dividend and replaced it with a second interim dividend of the same amount and paid out on the same timescale.

The replacement will be paid out on 31 May.

The company said: “A resolution was to be put to shareholders at the Company’s forthcoming Annual General Meeting on 27 May 2011 seeking their approval of the previously notified proposed final dividend of 2.15p per share.

“The resolution was, however, unfortunately omitted from the Notice of Annual General Meeting sent to shareholders on 21 April 2011.”

“In order to avoid any delay in the payment of this dividend to shareholders, the Board has decided to withdraw its recommendation of the previously proposed final dividend, and will now pay, in its place, a second interim dividend of the same value and on the same timetable as already set out.”

It also warned that construction is its weakest division and saw a fall in work in the first quarter of the year.

Stable trading in its land, property development and plant hire businesses, however, means that the group is trading within expectations overall.

“The Company continued to trade in line with the Board’s expectations during the period. Trading conditions have been stable with, if anything, a slight improvement in the Group’s land, property development and plant hire businesses,” the firm said in an interim management statement this morning.