Frankie & Benny owner The Restaurant Group plans to return £35m to shareholders after its successful sale of Caffé Uno.
Subject to shareholder approval at an extraordinary general meeting on 23 February, the group will pay a special dividend to its shareholders at the start of March.
The Restaurant Group announced the sale of Uno to the Paramount restaurant group in November 2005 for £33m, as well as its intention to return money to shareholders.
Chief executive Andrew Page said: “The sale of the Caffé Uno business leaves The Restaurant Group focused on businesses with higher quality earnings and cash flows. Going, forward, we are well placed to continue to deliver good growth.”
Paramount buys Caffé Uno chain from TRG >>
By Chris Druce
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