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Rexam details cash return

Rexam got a good price for its personal care business and shareholders will get the benefit
January 9, 2013

When Rexam (REX) sold its personal care division for $709m (£439m) last summer it promised to hand a large slice of the proceeds back to shareholders. True to its word, the beverages can maker has just posted forms setting out a £395m return worth 45p a share, and there's a menu of options depending on an investor's tax situation.

IC TIP: Buy at 448p

Shareholders get one B share worth 45p for each Rexam share they own, which they can choose to receive either as income or capital, depending on their tax position. Pick the dividend, or fail to get the form back in time, and cheques will be in the post on 11 February. Opt for capital and the money will be sent either on 11 February, or, if preferred, on 15 April, in the new tax year.

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