C&C Group has said that a quarter of its shareholders have opted to receive shares in the company instead of either all or part of a final cash dividend.

The Magners cider maker said yesterday (5 July) that it will issue 316,818 shares at EUR0.01 (US$0.014) each to 25.6% of its ordinary shareholders. The shares are expected to begin trading on 13 July. 

The shareholders have chosen to receive the shares in lieu of either all or part of a cash dividend.

In its full-year results announcement, C&C proposed a 10% rise on its final dividend, to EUR0.033 per share. Last week, C&C reported that stronger demand for Magners cider during a spate of hot weather in the UK helped to insulate it from problems elsewhere in its portfolio in its fiscal first-quarter.