The company announced it will return $800 million via a fully franked special dividend of just under $140 million, nd a proposed capital return of $661 million, subject to shareholder approval.

Shareholders are set to receive 9.13 cents per share as a special dividend and 43.57 cents per share as a capital return. The special dividend will be paid in early February.

CSR also announced today that it intends to consolidate its shares, in a ratio of one share for every three CSR shares currently held, if the proposed capital return is approved by shareholders.

The company registered successive annual net losses in its last two financial years, after the dubbed ‘disastrous’ acquisition of the Viridian glass business. For the half year ended 30 September 2010, however, it reported a net profit of $74 million.

Shares in the CSR rose on the news, ending the day 3.63 per cent higher at $1.71, against a 0.42 per cent slide in the benchmark index.