British engineer Bodycote doubles special dividend

(Adds details, share movement)

Feb 26 (Reuters) - British engineering company Bodycote Plc (LSE: BOY.L - news) reported a 5.4 percent rise in full-year pretax profit and announced a special dividend of 38 million pounds ($59 million) - more than the company's net cash on hand at the end of December.

Bodycote, which heat-treats jet engine turbine blades and other aircraft and car parts, said on Thursday its priority was to use the cash for organic growth and value-enhancing acquisitions.

"If no such acquisitions are imminent and available funds exceed the immediate needs of the business, then it is our intention to make supplemental distributions to shareholders," Bodycote said in a statement.

Bodycote's cash on hand stood at 35.7 million pounds at the end of December. The special dividend of 20 pence per share is double the special payout in 2013.

The company also announced a final dividend of 9.8 pence per share, up from 9.1 pence a year earlier.

Bodycote provides services to improve the properties of metals through heat treatment, metal joining and hot isostatic pressing.

The company reported a pretax profit of 103.7 million pounds for 2014, compared with 98.4 million pounds a year earlier.

Revenue fell 1.7 percent to 609.1 million pounds on a reported basis but was up 4 percent at constant exchange rates.

Shares (Frankfurt: DI6.F - news) of the company were down 0.6 percent at 761.5 pence at 0856 GMT on the London Stock Exchange (Other OTC: LDNXF - news) .

($1 = 0.6438 pounds) (Reporting by Roshni Menon in Bengaluru; Editing by Anupama Dwivedi)