Thomson Reuters shareholders approved a plan for a significant return of capital and share consolidation during a special meeting. Chairman David Thomson announced the resolution passed with over 99% of votes in favor. The board of directors had unanimously recommended the proposal to shareholders.
The transaction includes a special cash distribution of approximately $1.36 per common share. This payout totals roughly $605 million for investors. A share consolidation will follow the distribution, functioning similarly to a reverse stock split.
The return of capital is structured to be generally tax-free for Canadian tax purposes. Non-Canadian shareholders received an opt-out option to address potential variations in tax implications.