British software maker Psion said today it aimed to start paying dividends again for 2004 if it completes the sale of its stake in mobile phone software firm Symbian.
The loss-making company also said its adjusted pre-tax loss narrowed to £4.6 million sterling for the year ended December, from a loss of £14.8 million a year earlier. Turnover on ongoing business rose 4.5 per cent to £129.1 million.
The company said last month it would sell its 31 per cent stake in Symbian to Nokia, the world's largest mobile phone group, for an estimated £136 million. The price was lower than many had expected, and Psion shares plummeted.
"Assuming that the Symbian disposal is completed, the board intends to resume the payment of dividends in the 2004 financial year," Psion said.
Psion shares edged up 0.4 per cent to 62-3/4 pence in morning trade. The stock has underperformed the FTSE tech sector by about 50 per cent over the last year and is well below peaks of around £14 during the tech bull market of 2000.
Selling Symbian leaves Psion as a business that mainly provides mobile computing devices and wireless local area network systems to enterprises.
Symbian is owned by many of the world's top handset makers, such as Sony Ericsson and Samsung.