ODEL declares first dividend

Fashion retail brand ODEL has declared an interim dividend of 25 cents per share in respect of the company’s performance in the nine months ending 31st December 2010, its first dividend since going public in July 2010.

“The first three quarters of the year have been good for us and got a boost during the festive season; hence we would like to share the benefits with our shareholders,” ODEL Chief Financial Officer Nishan Fernando said in a statement. The company’s interim financial statements for the third quarter of 2010-11 are expected to be filed with the CSE shortly.