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QuickFee Ltd. ( (AU:QFE) ) has issued an announcement.
QuickFee Limited has announced a capital return of 7.5 cents per share, amounting to approximately A$28.5 million, following shareholder approval at the recent Annual General Meeting. This capital return is a result of the proceeds from the sale of QuickFee’s US Pay Now and Connect businesses. The remaining proceeds will be used to reduce borrowings and maintain a minimum cash level. This move is expected to impact QuickFee’s financial positioning by strengthening its balance sheet and providing direct returns to shareholders.
More about QuickFee Ltd.
QuickFee (ASX: QFE) is a fast-growing financial technology company focused on helping professional service firms accelerate their accounts receivables and get paid faster. The company offers multiple online payment options and e-invoicing integrations for practice management systems, primarily serving the accounting and legal professions in the United States and Australia.
Average Trading Volume: 855,601
Technical Sentiment Signal: Buy
Current Market Cap: A$49.21M
See more insights into QFE stock on TipRanks’ Stock Analysis page.