Michael Page pays special dividend

Michael Page pays special dividend

Recruitment firm Michael Page (LON:MPI) announced their half yearly results this morning, saying it would pay out a special dividend of £50 million pounds to its shareholders.

The company reported a higher than expected half-year profit of £40.4 million, with strong demand in all regions, pulling the firm into a fourth consecutive quarter of double digit profit growth.

Chief executive Steve Ingham said: “For the fourth successive quarter we delivered double-digit gross profit growth in constant currencies and have continued to see improvement in all our regions.

“Our five high-potential markets of Germany, Greater China, South East Asia, the US and Latin America, despite the challenges in Brazil, are performing at a record level and now represent 30% of group gross profit”

The announcement is the first time the company have paid a dividend like this, preferring to buy back shares.The two dividends will be paid in October.

Michael Page are currently trading up 3.6 percent on the news, at 546 pence per share.