Playtech will return 150 million pounds to investors is has in a war chest for acquisitions the company announced.
The news sent shares in the FTSE 250 company up as much as 5 percent to an all-time high of 944½p in early trade, according to Britain’s Daily Telegraph. Playtech, a key supplier to betting companies, said it would pay a special dividend of 46 euro cents a share—40p at current exchange rates—to shareholders on December 6.
The move comes after Playtech announced an interim payout that has been lifted 15 percent to 11 cents. The moves still leave the company with about €750 million for acquisitions, the Telegraph reported.
“We’re still in discussions with certain potential companies that we would like to acquire, both in the gaming division as well as the financial trading division,” Mor Weizer, Playtech’s chief executive of Playtech told the paper.
Playtech is paying the dividends despite first-half results, which showed pre-tax profits slumped 40.2 percent to €51.3 million despite an 18.1 percent rise in revenues to €337.7 million. The profits were hit by the pound’s plunge following the Brexit vote in June, according to the Telegraph.
Playtech has spent €162 million this year buying Swedish games developer Quickspin and betting software Best Gaming Technology.
“It’s about the right acquisition not just the size,” Weizer told the paper.
