Shares in IWG PLC advanced 4.1% after it announced a resumption of dividends ahead of an investor day in New York.
The workspace provider that owns Regus said it is planning to restart “its progressive dividend policy” with a final dividend, expected to be 1p per share to be announced alongside 2023 full-year results.
The company said presentations from IWG's management team will outline strategic priorities and prospects for the medium term.
Alongside the resumption of dividends these include a medium-term ambition of $1 billion run-rate Ebitda, committing to additional capital returns to shareholders once net financial debt/Ebitda falls below 1x and presenting the business as three divisions - Managed and franchised, Company-owned, Worka.
IWG also confirmed it will be moving its functional currency to US dollars as of 1 January 2024.
Back in August, Reuters reported IWG was considering moving its listing from London to New York.