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January 23, 2002

UK: M&S Details £2 Billion Payout For Shareholders

British high street giant Marks & Spencer on Wednesday revealed how it plans to hand back £2 billion to shareholders after a major restructuring that involved the sale of property and overseas businesses. The company will return the money to around 358,000 private investors under a complicated scheme that will see it reduce the size of its capital by 20 per cent and allow shareholders to decide when they want to take the cash.

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