Galliford Try has agreed a settlement in its long-standing dispute with a major infrastructure fund. As a result of the settlement, Galliford Try will receive a cash payment of £26m and expects to report a one-off, non-cash write-off of c£3m. Further to this settlement, Galliford Try has declared a special dividend of 12p per share, amounting to c£13m or half the agreed payment. This settlement brings to a conclusion a complex and challenging multi-contract dispute resulting in a substantial cash settlement, enabling the payment of a special dividend equivalent to a yield of 6.5%, and a modest truing up to the carrying value of contract assets.