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a2 Milk Co. Declares Fully Franked Special Dividend; Shares Jump 5%

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a2 Milk Co. (NZE:ATM, ASX:A2M) declared a fully franked special dividend of NZ$0.41355 per share, payable on July 24 to shareholders on record as of July 9, according to a Thursday filing with the New Zealand and Australian bourses.

The special dividend follows the company's earlier update that it received State Administration for Market Regulation approval to transfer two China-label infant formula registrations from the a2 Pokeno facility to a2-branded products, the filing added.

The company's New Zealand shares jumped almost 5% in recent Thursday trade.

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