a2 Milk Company declares $300M dividend

• The a2 Milk Company has declared a NZ$300 million special dividend following key regulatory approvals.
• Shareholders will receive a fully franked payment of 41.36 New Zealand cents per ordinary share.
• The distribution follows approval from Chinese regulators to transition two product registrations to a2 branded products.

The a2 Milk Company (ASX:A2M) declared a NZ$300 million special dividend after securing regulatory approvals in China.

This capital return follows a June 22 announcement regarding Chinese regulatory approvals for infant formula registrations.

“With the necessary China regulatory approvals now in place, the Board is pleased to declare a NZ$300 million special dividend,” said the company Chair Pip Greenwood.

The fully franked and unimputed dividend will provide 41.36 cents per ordinary share to investors on July 24.

Following the announcement, the company's share price was up at $6.78.

The dairy nutritionals business has focused on expanding its branded products across targeted international markets like China and North America.

The company registered the products in connection with its acquired Pokeno manufacturing facility.