25 May 2012

Densitron confirms big payout

25/02/2011 Miles Nolan

Electronics minnow Densitron Technologies (DSN) has confirmed it will reward its shareholders with a 5p a share special dividend. The news follows the disposal in October of its 24.5 per cent stake in display manufacturer Evervision Electronics for £3.4 million in cash. Following a previous sale the total proceeds to Denistron now top £5.1 million.

Recent trading has improved with sales ahead by 65 per cent as all divisions returned to the black. Given the excess cash from the disposal the AIM quoted firm has decided to return £3.5 million or 5p a share - a significant sum compared to the current share price of 15p.

Densitron has a potentially valuable piece of land in Blackheath. Though the book value is £50,000 the development potential is significant, however, a recent planning application has been refused. Further options are now under consideration. Shareholder approval for the distribution is required next month with payment expected in May.

Tags: AIM market, Disposal, Penny shares, Profitable, Special dividend

Sector: Electronic & Electrical Equipment

Companies: Densitron Technologies

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