By Matteo Castia

Tesco PLC said Monday that it is declaring a special dividend and that it is making a large contribution to its pension program as it has received the proceeds of the sale of its Thai and Malaysian businesses.

The British grocer said it has received net funds of 7.80 billion pounds ($10.67 billion) and is returning GBP4.99 billion to shareholders by way of a special dividend of 50.93 pence a share.

Tesco said it is contributing GBP2.50 billion to its pension program, an injection also funded by the proceedings of the Thai and Malaysian businesses sale.

Write to Matteo Castia at matteo.castia@dowjones.com

(END) Dow Jones Newswires

January 25, 2021 02:42 ET (07:42 GMT)

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