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Next investors to cash in with second dividend

Next is to further reward investors with a special dividend, the second to be announced this year.

The retailer revealed on Friday that it will pay a special dividend of 50p per share on May 1 to those on the company’s register at the close of business on April 4.

Last month the chain said it would pay a dividend of 50p per share on February 3 to those on the company’s register at the close of business on January 17. This came on the back of Next increasing its full year profit guidance following an 11.9% increase in total sales in the fourth quarter.

The dividends have been given because the company’s shares are trading at too high a value to return cash in buybacks. Next has halted buybacks of its shares since October.

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