Eumundi Group dividend and takeover update

Eumundi Group (ASX:EBG), a Queensland-based company specializing in hotels and investment properties, has declared an interim dividend of 2.4 cents per share, fully franked at a 25% tax rate. Shareholders must hold shares by January 7, 2025, to receive this dividend. The company also supports a takeover offer from SEQ Hospitality Group Pty Ltd, proposing $1.62 per share.

Key points and future outlook for Eumundi Group

Eumundi Group has announced an interim dividend of 2.4 cents per share, which is fully franked at a corporate tax rate of 25%. Shareholders need to be registered by January 7, 2025, to qualify for this dividend, set for payment on January 13, 2025. The Dividend Reinvestment Plan is suspended for this distribution. Additionally, Eumundi supports a takeover by SEQ Hospitality Group Pty Ltd, which currently holds a 77.95% interest in Eumundi shares. Shareholders are encouraged to accept SEQ's offer of $1.62 per share, pending confirmation from an Independent Expert. Eumundi's board is advocating for the takeover, provided no superior proposals emerge.

Executive insights on Eumundi Group's strategic decisions

The directors of Eumundi unanimously recommend that shareholders accept the Takeover and vote in favor of the Scheme, assuming no superior proposal arises and the Independent Expert confirms that the Takeover is fair and reasonable.