Centrepoint positions on dividend and Diverger

Centrepoint Alliance has announced a once cent increase in its dividend at the same time as repeating that an unsolicited takeover bid by competitor financial planning dealer group, Diverger, does not measure up.

In an announcement released to the Australian Securities Exchange (ASX) today, Centrepoint said that following the release of “strong unaudited FY22 results” a fully franked ordinary dividend of one cent per share would be payable on top of the fully ranked interim dividend of 0.5. cents per share.

At the same time it said discussions with Diverger had not progressed to a point where Centrepoint had any further update to shareholders but that it remained of the view that the Diverger bid did not adequately reflect Centrepoint’s fair value.

“Centrepoint Alliance will continue to progress industry consolidation opportunities and other strategic organic and inorganic initiatives which it believes can deliver a superior long-term outcome to shareholders,” the ASX announcement said.

“Centrepoint is actively evaluating alternative mechanisms to provide enhanced liquidity to shareholders,” the announcement said.