Leo Lithium (ASX:LLL) is set to monetize its remaining assets and return all net proceeds to shareholders, with AU$330 million to be returned to shareholders in two tranches before the end of the year, according to a Thursday Australian bourse filing.

It will pay a first dividend of AU$265 million in mid-October, and a second distribution of AU$65 million will be made before year-end. The record date for the first distribution will be Oct. 3, and the payment date will be Oct. 14.

A shareholder meeting will be convened to seek approval for the return of capital.

It terminated the search for a new asset after reviewing its ongoing strategy. It began a process to right-size the firm and its assets.