Investor News

The Smiths Group Board has a progressive dividend policy, aiming to increase dividends in line with long-term underlying growth in earnings and cash-flow. This policy enables them to retain sufficient cash-flow to finance investment in the drivers of growth and meet their financial obligations. In setting the level of dividend payments, the Board considers prevailing economic conditions and future investment plans, along with the objective to maintain minimum dividend cover of around 2.0x. 

The Saga Board of Directors has considered the early progress made in the implementation of the Group's revised strategy and is confident in the ability of Saga to achieve the full year target for Underlying Profit Before Tax of between £105m and £120m. 

Next are declaring an ordinary dividend of 57.5p, up +4.5% on last year, to be paid on 2 January 2020. Shares will trade ex-dividend from 5 December 2019 and the record date will be 6 December 2019.

Kier group paid an interim dividend of 4.9p on 17 May 2019. However, the Company has suspended the final dividend for FY2019 and the dividend for FY2020. The Board will continue to review the Company's dividend policy for future financial periods.

The Games Workshop Board has today declared a dividend of 35 pence per share. This is in line with the Company's policy to distribute truly surplus cash. This will be paid on 8 November 2019 for shareholders on the register at 27 September 2019, with an ex-dividend date of 26 September 2019. The last date for elections for the dividend re-investment plan is 11 October 2019.

Cenkos' dividend policy, as stated in the 2018 Annual Report, is to use earnings and cash flow to underpin shareholder returns through a combination of dividend payments and share buy-backs into treasury. Their goal is to pay a stable ordinary dividend, reinvest in the firm and return excess cash to shareholders subject to capital and liquidity requirements and the prevailing market conditions and outlook. As at 30 June 2019, Cenkos had a capital resources surplus of £15.9 million (30 June 2018: £12.0 million) above the Pillar 1 regulatory capital requirement. 

The Kingfisher Board has declared an interim dividend of 3.33p, flat on last year (2018/19: 3.33p). They continue to be comfortable with medium term dividend cover in the range of 2.0 to 2.5 times based on adjusted basic earnings per share, a level the Board believes is prudent and consistent with the capital needs of the business.

The NAHL Board is declaring an interim dividend of 2.6p per share payable on 31 October 2019 to ordinary shareholders registered on 27 September 2019. Their policy is to have a dividend cover of twice underlying EPS, before exceptional costs and non-cash charges.

The CAML Board of Directors is pleased to declare an interim dividend of 6.5 pence per ordinary share, which is in line with the Company's stated policy and consistent with the previous corresponding period. This will be paid on 25 October 2019 to shareholders registered on 4 October 2019.

The Wetherspoons board has proposed, subject to shareholders' approval, to pay an unchanged final dividend of 8.0p per share, on 28 November 2019, to shareholders on the register on 25 October 2019, giving an unchanged total dividend for the year of 12.0p per share. The dividend is covered 5.8 times (2018: 5.3 times).

Morrison Supermarkets have proposed an interim ordinary dividend which is up 4.3% to 1.93p. In addition, they are again proposing a special dividend of 2.00p per share, which will take the total interim dividend up 2.1% to 3.93p (2018/19: 3.85p).

The Brooks Macdonald Board has recommended a final dividend of 32.0 pence (FY18: 30.0 pence) which, subject to approval by shareholders, will result in total dividends for the year of 51.0 pence (FY18: 47.0 pence). This represents an increase of 8.5% on the previous year and reaffirms the Board's confidence in the strength of the business and their commitment to a progressive dividend policy. The final dividend will be paid on 8 November 2019 to shareholders on the register at the close of business on 27 September 2019.

The directors of Galliford Try PLC are recommending a final dividend of 35.0 pence per share which, subject to approval at the AGM, will be paid on 4 December 2019 to shareholders on the register at 8 November 2019.  This is in line with their policy of paying a dividend which is 2x covered by earnings. Together with the interim dividend of 23.0 pence per share paid in April, this will result in a total dividend for 2019 of 58.0 pence per share.

The Epwin Board is pleased to announce a 3% increase in the interim dividend to 1.75 pence per ordinary share (2018: 1.70 pence), to be paid on 18 October 2019 to shareholders on the register on 20 September 2019.

The Board has declared an interim dividend of 2p per share payable on 11 October 2019 to shareholders registered on the record date 20 September 2019.

The Vectura Board has announced a proposed special dividend of approximately £40m to be accompanied by a share consolidation, both subject to shareholder approval, with a £10m on-market share buyback to commence following the share consolidation. The Board also intends to undertake a further on-market £10m buyback, to be announced in due course after the completion of the first tranche.

An interim dividend of 20.5 pence per share (H1 2018: 19.0 pence) has been declared and will be paid on 22 November 2019 to holders of ordinary shares on the register at the close of business on 27 September 2019.

The Directors of Hilton Food have approved the payment of an interim dividend of 6.0p per share payable on 29 November 2019 to shareholders who are on the register at 1 November 2019.

The Sanne Board has declared an interim dividend of 4.7 pence per share (H1 2018: 4.6p). The dividend will be paid on 18 October 2019 to shareholders on the register as at the close of business on the record date of 20 September 2019.

The JD Sports Board has proposed paying an interim dividend of 0.28p (2018: 0.27p) per ordinary share, an increase of 3.7%. This dividend will be paid on 3 January 2020 to shareholders on the register at 29 November 2019. They continue to believe that it is in the longer term interests of all shareholders to keep dividend growth restrained so as to maximise the available funding for their ongoing growth opportunities.

The Abcam's strong balance sheet and cash generation capability has allowed the Directors to propose an increase in the dividend for the year. Subject to approval at the AGM on 13 November 2019, the Board proposes to pay a final dividend of 8.58 pence (2017/18: 8.58 pence) per share.

The Group is declaring an interim dividend for 2019 of 1.25p (H1 2018: 1.25p) in line with its dividend policy of maintaining 2-3x earnings cover.  The interim dividend will be paid on 8 November 2019 to shareholders on the register at close of business on 4 October 2019.  The ex-dividend date is 3 October 2019.

The Ashmore Board intends to pay a progressive ordinary dividend over time, taking into consideration factors such as the prospects for the Group's earnings, demands on the Group's financial resources, and the markets in which the Group operates.

The Melrose Board declared an interim dividend of 1.7 pence per share (2018: 1.55 pence), which is a 10% increase on last year and will be paid on 11 October 2019 to shareholders on the register at the close of business on 13 September 2019. The Board continues to align its dividend policy with the earnings of the Group and will use this basis to set future dividends, including for the final dividend for this year.

The Go-Ahead Board is proposing a total dividend for the year of 102.08p per share (2018: 102.08p), consistent with the prior year.

The Alumasc Board has decided to recommend to shareholders an unchanged final dividend of 4.4 pence per share (2017/18: 4.4 pence), applicable to members on the share register on 27 September and to be paid on 31 October. This takes the total dividend for the year to 7.35 pence, again unchanged on the prior year.

In line with the policy on payments to shareholders, the McBride Group expects to distribute adjusted earnings to shareholders based on a dividend cover range of 2x-3x progressive with earnings of the Group, taking into account funding availability.

The Board has proposed a 2019 final dividend of 20.5p per share which will be paid on 13 November 2019 to Shareholders on the register on 20 September 2019, subject to Shareholder approval at the 2019 Annual General Meeting.

The Dunelm Board has recommended an increased final dividend of 20.5 pence per share, bringing the total ordinary dividend for the full year to [28.0] pence per share, an increase of 5.7% on the previous year. As a result of their strong cash flow generation this year, which reduced their net debt position, and in line with their policy, the Board has also declared a special dividend of 32.0 pence, to be paid in October 2019.

The Barrett Board proposes to pay a final ordinary dividend of 19.5 pence (2018: 17.9 pence) per share for the financial year ended 30 June 2019, which subject to shareholder approval, will be paid on Tuesday 5 November 2019 to shareholders on the register at the close of business on Friday 11 October 2019. Together with the interim ordinary dividend of 9.6 pence per share (2018: 8.6 pence per share), which was paid in the year, this gives a total ordinary dividend for the year of 29.1 pence per share (2018: 26.5 pence per share). With basic earnings per share of 73.2 pence (2018: 66.5 pence) the ordinary dividend is therefore covered around 2.5 times by earnings, in line with their ordinary dividend policy. 

Just Group have stated previously that they expected to recommence dividend payments for the 2019 financial year at a rebased level of around one third of the amount paid in 2017. Regulatory and economic uncertainty mean the directors are not recommending the payment of an interim dividend. They will revisit their dividend policy with their full year results, informed by their capital position and the outlook at that time. 

The Belvoir board is proposing that the interim dividend for 2019 be maintained at 3.4p per share. The Group aims to offer a reliable and growing income stream to investors whilst also investing in the business to further its strategic growth objectives. 

The Restaurant Group Board has proposed an interim dividend of 2.1p, reflecting the Board's policy of paying a dividend covered two times by adjusted profit after tax.  The interim dividend will be paid on 10 October 2019 to shareholders on the register on 13 September 2019 and shares will be marked ex-dividend on 12 September 2019. 

The Board is proposing a final dividend of 22.10 pence per share (2018: 18.17 pence per share). Added to the interim dividend of 9.50 pence per share, this brings the total dividend for the financial year ended 30 June 2019 to 31.60 per share, representing 23.9% growth over the previous year.

The Clipper Logistics Board is recommending a final dividend of 6.5 pence per share, making a total dividend in respect of the year ended 30 April 2019 of 9.7 pence (2018: 8.4 pence), an increase of 15.5%. The proposed final dividend, if approved by shareholders, will be paid on 23 October 2019 to shareholders on the register at the close of business on 20 September 2019. 

Graftons interim dividend has been increased by 8.3 per cent to 6.50p from 6.00p. The increase is in line with the Board's progressive dividend policy which is based on increasing dividends as earnings grow.

The Emis Board has taken into account the consistent underlying growth of the Group, together with its future prospects, and has therefore declared a 10% increase in the interim dividend to 15.6p (2018 H1: 14.2p) per share, payable on 1 November 2019 to shareholders on the register at the close of business on 27 September 2019, which will be payable on 1 November 2019 to shareholders on the register at 27 September 2019. This interim dividend, which will amount to approximately £9,795,000, has not been recognised as a liability in these half year financial statements.

Hays have proposed an increase in full-year core dividend of 4%, in line with earnings, to 3.97p per share and special dividend of £79.7m, up 9% to 5.43p per share. Total full-year dividends of £137.9m (2018: £128.3m)

Hunting have declared an interim dividend of 5.0 cents declared (H1 2018 - 4.0 cents), absorbing cash of approximately $8.3m (H1 2018 - $6.6m), payable to shareholders on 23 October 2019, with a record date of 4 October 2019.

Chesnara have announced their Economic Value at £645.1m, which is 3% higher than at the end of 2018, after payment of the 2018 final dividend of £20.2m, despite the negative impact of a weakening Swedish krona. The results in the period support the continued growth of the dividend to 7.43p per share (2018 interim: 7.21p per share).