Recent articles for private investors with a focus on dividend announcements
Ashtead Group PLC announce a proposed final dividend of 35.0p, making 42.15p for the full year Ashtead Group has a progressive dividend policy, which considers both profitability and cash generation, and results in a dividend that is sustainable across the cycle. Their intention has always been to increase the dividend as profits increase and be able to maintain it when profits decline. However, in a year of slightly lower profit but strong cash generation, a strong balance sheet and a positive outlook, the Board is recommending an increased final dividend of 35.0p per share (2020: 33.5p) making 42.15p for the year (2020: 40.65p). If approved at the forthcoming Annual General Meeting, the final dividend will be paid on 21 September 2021 to shareholders on the register on 20 August 2021.
Eckoh PLC announce a proposed final dividend is maintained at 0.61p per share Post year end the Eckoh Directors are recommending that a final dividend for the year ended 31 March 2021 of 0.61 pence per ordinary share be paid to the Shareholders whose names appear on the register at the close of business on 24 September 2021, with payment on 22 October 2021. The ex-dividend date will be 23 September 2021. This recommendation will be put to the Shareholders at the Annual General Meeting. Based on the shares in issue at the year end, this payment would amount to £1.6m.
Iomart Group propose a final dividend of 4.50p The Iomart dividend policy, which has been in place for several years now, is based on the profitability of the business in the period measured with reference to the adjusted diluted earnings per share they deliver in a financial year. For the last few years they have been paying dividends at the maximum level allowed by their stated policy. They have reviewed their dividend policy in the year and with the continued strong level of cash generation in the business are increasing the maximum pay-out policy from 40% to 50% of adjusted diluted earnings per share. This amendment allows the Directors to propose a final dividend of 4.50p which is above the prior year of 3.93p and they believe is fully appropriate given the recurring revenue nature of the Group, the level of operating cash which they deliver, the low level of indebtedness within the Group and the fact they have not utilised any of the government furlough schemes. As a result, along with the interim dividend of 2.60p (2020: 2.60p), which was paid in January 2021, the total dividend for the year is 7.10p (2020: 6.53p), an increase of 8.7%.
The Auto Trader Group proposes a final dividend of 5.0 pence per share The Auto Trader Group Board has decided to reinstate its capital allocation policy and proposes a final dividend of 5.0 pence per share (2020: no final dividend declared), which is also the total dividend for the full year (2020: 2.4 pence per share). Their capital policy remains broadly unchanged: to continue to invest in the business enabling it to grow while paying around one third of net income to shareholders in the form of dividends. They aim to return the remaining surplus cash to shareholders through share buy backs, which will recommence shortly.
Halma PLC announce a total dividend per share for the year up 7% The Halma Board is recommending an 8% increase in the final dividend to 10.78p per share. Together with the 6.87p per share interim dividend, this would result in a total dividend for the year of 17.65p, up 7%, making this the 42nd consecutive year of dividend per share growth of 5% or more.
CMC markets announce a final dividend of 21.43 pence per share CMC Markets announce a final dividend of 21.43 pence per share (total dividend of 30.63 pence per share), in line with the dividend policy. The Board remains committed to paying a total dividend of 50% of profit after tax, balancing investing in long-term success and providing shareholders with superior returns.
Norcros announce the reinstatement of their dividend at 8.2p for the year The Norcros Group responded swiftly to the impact of the COVID-19 pandemic and the need to preserve cash by not paying a final dividend in relation to the year ended 31 March 2020 nor an interim dividend in relation to the year ended 31 March 2021. Based on the improved trading performance in the second half of the year, the further strengthening of the balance sheet and the current outlook the Board believes that now is the right time to reinstate the dividend and has therefore taken the decision to recommend a final (and total) dividend of 8.2p per share for the year (2020 total: 3.1p). This is equivalent to a dividend cover of 3.8 times, consistent with the year ended 31 March 2019. The Group will now continue with its previous progressive albeit prudent dividend policy which takes into account the Group's growth strategy, the interests of other key stakeholders, the Group's cash generative characteristics and its earnings growth.
Dewhurst PLC have declared an increased interim dividend of 4.25p per ordinary share The Dewhurst Directors have declared an increased interim dividend of 4.25p per ordinary share (2020: 3.75p) which amounts to £343,000 (2020: £315,000). The interim dividend is payable on 17 August 2021 and will be posted on 12 August 2021 to shareholders appearing in the Register on 9 July 2021 (ex-dividend date being 8 July 2021).
Urban Logistics announce an interim dividend of 3.25pence per share Urban Logistics REIT announced an interim dividend of 3.25 pence per share which was paid in October 2020 to shareholders prior to the issuance of new shares in the same month.
Oxford Instruments announce dividend for the year of 17.0p per share The Oxford Instruments Group's policy is to increase the dividend each year in line with the increase in underlying earnings, considering movements in currency. Following the high uncertainty created by the impact of covid, the Group did not pay a dividend for the 2019/20 financial year. After a resilient year of trading, the Board has proposed a final dividend of 12.9p per share. This results in a total dividend of 17.0p per share, equivalent to a two-year compound annual growth rate of 8.7% from 2018/19. An interim dividend of 4.1p per share was paid on 14 April 2021. The final dividend will be paid, subject to Shareholder approval, on 15 October 2021 to Shareholders on the register as at 10 September 2021.
RWS Holdings announce an interim dividend of 2.00p per share The RWS Holdings Directors have approved an interim dividend of 2.00p per share, reflecting a 14% increase over the 1.75p declared in H1 2020. This reflects both the Group's strong financial position, its cash generative business model and the Board's confidence in its future prospects.
Palace Capital announce a 20% increase to a proposed final quarter dividend, rising to 3.0p and bringing total dividends paid for the year to 10.5p Despite the uncertain economic environment, the Palace Capital Board made the decision to reinstate continuous quarterly dividends in the year as a result of the strong rent collection and the strength of the Group's balance sheet. Subsequently, the Board is recommending a final quarterly dividend of 3.0p per share to be paid 5 August 2021 to shareholders registered at the close of business on 2 July 2021. The full year dividend, when taking account of the quarterly dividends paid in October 2020, December 2020 and April 2021, will total 10.5p, representing a 4.4% yield on the share price at 31 March 2021 and ensuring the dividend is covered by earnings by 1.6x. They expect the final dividend to be the minimum level of dividend to be paid to shareholders each quarter for the year ending 31 March 2022.
Paragon Banking announce an interim dividend declared at 7.2p, being 50% of 2020's final dividend The Paragon Banking Group's dividend and distribution decisions in the 2020 financial year were dominated by the potential impact of the Covid pandemic. The strategic decision to build capital in response to the inherent risks posed by the virus meant that no interim dividend was declared for the year. At the 2020 year end a dividend was declared in line with the Group's stated policy of distributing around 40% of earnings to shareholders.
Intermediate Capital Group announce a total dividend up 10% at 56.0p per share The proposed final ordinary dividend for the year ended 31 March 2021 is 39.0 pence per share (2020: 35.8 pence per share), which will amount to £111.5m (2020: £101.6m). The total dividend in respect of the year ended 31 March 2021 was 56.0 pence per share (2020: 50.8 pence per share)
B.P Marsh & Partners announce a proposed dividend of 2.44p per share payable in July 2021 The B.P Marsh & Partners Group paid a dividend of £0.8m (or 2.22p per share) during the year (2020: £1.7m or 4.76p per share), reflecting a distribution of 100% of the underlying profit from the year to 31 January 2020. The reduced dividend payment reflected the Group's requirement to strike a balance between the need to conserve cash to ensure that it could continue to prosper and develop during the Covid- 19 pandemic and beyond, whilst also rewarding Shareholders for their continuing loyalty. Total shareholder return for the year was therefore 10.1% (2020: 9.8%) including the dividend payment and the Net Asset Value increase.
VP PLC propose a final dividend of 25.0 pence per share The VP Board has proposed a final dividend of 25.0 pence per share to be paid on 5 August 2021 to shareholders on the register at 25 June 2021. As no interim dividend was paid, this makes a total dividend for the year of 25.0 pence per share (2020: 30.45 pence per share). A special dividend of 22.0 pence per share was paid to shareholders on 17 January 2021 in lieu of the final dividend for the financial year ended 31 March 2020, which was delayed due to Covid-19 uncertainties.
Sirius Real Estate announces 10.0% increase in second half dividend per share to 1.98c The Sirius Real Estate Board has authorised a dividend in respect of the second half of the financial year ended 31 March 2021 of 1.98c per share representing a pay-out of 65% of FFO, an increase of 10.0% on the equivalent dividend last year which was also based on 65% of FFO. The total dividend for the year is 3.80c, an increase of 6.4% on the 3.57c total dividend for the year ended 31 March 2020.
Braemar Shipping Services announce an intention to declare a dividend of 5p per share for the year With regard to the year to 28 February 2021, the Braemar Shipping Services Directors are recommending for approval at the AGM on 20 July 2021 a dividend of 5p per share. This dividend will be paid on 30 July 2021 to all ordinary shareholders on the register at the close of business on 25 June 2021, with a corresponding ex-dividend date of 24 June 2021. The last date for Dividend Reinvestment Plan ("DRIP") elections will be 9 July 2021. For subsequent years, the Board intends, subject to financial performance, to declare an interim and a final dividend each year, on a progressive basis.
Workspace PLC announces a total dividend of 17.75p per share At the half year Workspace PLC decided to defer a decision on the payment of the dividend as the UK was entering another month of lockdown at that time and there was heightened uncertainty. However, in line with their policy, the Board is now recommending a final dividend of 17.75p per share (2020: 24.49p) to be paid on 6 August 2021 to shareholders on the register at 2 July 2021. The dividend will be paid as a Property Income Distribution and fully meets the REIT distribution requirement for the year to 31 March 2021, with a dividend cover at 1.2 times adjusted underlying earnings per share.
DiscoverIE group announce a full year dividend increased by 6% over FY 2018/19 Last year, with the onset of COVID-19, the DiscoverIE Board took the decision not to declare a final dividend for FY 2019/20. With an improving outlook by the third quarter, and strong cash flow, the Board reinstated dividends in November 2020 with a 6% increase in this year's interim dividend to 3.15p per share (H1 2019/20: 2.97p per share).
B&M European Value Retail announce recommended final dividend increased by 140.7% to 13.0p per share B&M European Value Retail recommended final dividend increased by 140.7% to 13.0p per share (FY20: 5.4p), bringing the full year ordinary dividend to 17.3p per share (FY20: 8.1p), at the top end of their ordinary dividend pay-out policy. This is in addition to £450m of special dividends paid in FY21
Chemring Group announce an interim dividend increased by 23% to 1.6p At the Annual General Meeting on 4 March 2021 the Chemring Group PLC shareholders approved a final dividend in respect of the year ended 31 October 2020 of 2.6p per ordinary share. This was paid on 23 April 2021 to shareholders on the register on 6 April 2021.
Bloomsbury Publishing announce a final dividend of 7.58 pence per share and a special dividend of 9.78 pence per share The Bloomsbury Group has a progressive dividend policy aiming to keep dividend earnings cover in excess of two times, supported by strong cash cover. The Board is recommending a final dividend of 7.58 pence per share, totalling £6.2 million. Together with the interim dividend, this makes a total dividend for the year ended 28 February 2021 of 8.86 pence per share, an 8% increase on the 8.17 pence value of the dividend for the year ended 29 February 2020.
Gooch & Housego PLC announce interim dividend reinstated at 4.5p per share reflecting trading recovery and positive outlook Given the trading recovery and positive outlook for the Gooch & Housego Group, the Board has declared an interim dividend of 4.5 pence per share. This dividend will be payable to shareholders on the register as at 25 June 2021 on 30 July 2021.
Premier Miton announce a proposed interim dividend of 3.7 pence per share At 31 March 2021 the Premier Miton Group held £34.4 million in cash (2020 HY: £29.3 million). The Group has no debt.
Tate & Lyle announce a final dividend increased by 5.8% to 22.0p, making a full year dividend of 30.8p, up 4.1% The Tate & Lyle Board recognises the importance of dividends to shareholders and operates a progressive dividend policy. Due to the uncertainty caused by the Covid-19 pandemic, the Board decided not to increase either the final dividend for the 2020 financial year or the interim dividend for the 2021 financial year. Given this year's robust performance, the Board is recommending a 1.2p or 5.8% increase in the final dividend to 22.0p (2020 - 20.8p) per share, bringing the full year dividend to 30.8p per share (2020 - 29.6p), an increase of 4.1%. This increase brings dividends back to a level consistent with the Board's progressive dividend policy, notwithstanding the pandemic.
LondonMetric announces dividend progression of 4.2% to 8.65p, 110% covered, including Q4 dividend declared today of 2.35p LondonMetric has continued to declare quarterly dividends and has offered shareholders a scrip alternative to cash payments.
AJ Bell announce an interim dividend of 2.46 pence per share AJ Bell announce a strong balance sheet and robust liquidity position support both ongoing investment in the business and continuing returns to shareholders. The Board therefore recommends an interim dividend of 2.46 pence per share.
Pets At Home announce final dividend per share of 5.5p, an increase of 10% The Pets At Home Board has recommended a final dividend of 5.5 pence per share, an increase of 10% on the prior year. This takes the total dividend for the year to 8.0 pence per share (FY20: 7.5p per share), reflecting a strong cash performance and balance sheet. The final dividend will be payable on 13 July 2021 to shareholders on the register at the close of trading on 18 June 2021.
United Utilities Group announce a total dividend of 43.24p The United Utilities Group Board has proposed a final dividend of 28.83 pence per ordinary share in respect of the year ended 31 March 2021. Taken together with the interim dividend of 14.41 pence per ordinary share, paid in February, this results in a total dividend per ordinary share for 2020/21 of 43.24 pence. This is an increase of 1.5 per cent compared with the dividend relating to last year, in line with the group's dividend policy of targeting a growth rate of CPIH inflation each year through to 2025. The inflationary increase of 1.5 per cent is based on the CPIH element included within the allowed regulated revenue increase for the 2020/21 financial year (i.e. the movement in CPIH between November 2018 and November 2019).
Johnson Matthey announces a final dividend for the year of 50.0pence per share The Johnson Matthey board will propose a final ordinary dividend for the year of 50.0 pence at the Annual General Meeting on 29th July 2021. Together with the interim dividend of 20.0 pence per share, this gives a total ordinary dividend of 70.0 pence representing a 26% increase on the prior year. The board anticipates restoring future dividend payments to levels seen prior to the COVID-19 pandemic when circumstances permit. Subject to approval by shareholders, the final dividend will be paid on 3rd August 2021, with an ex-dividend date of 10th June 2021.
Daily Mail and General Trust announce an interim dividend increased +1% to 7.6p The Daily Mail and General Trust Board has declared an interim dividend of 7.6 pence per Ordinary and 'A' Ordinary Non-Voting share (H1 2020 7.5 pence) which will be paid on 2 July 2021 to shareholders on the register at the close of business on 11 June 2021.
Worldwide Healthcare Trust proposes a final dividend of 15.5 pence per share The Worldwide Healthcare Trust Board has proposed a final dividend of 15.5 pence per share in respect of the year ended 31 March 2021, such dividend will be paid, subject to shareholder approval, on 13 July 2021 to shareholders on the register on 4 June 2021. The associated ex-dividend date is 3 June 2021. The dividend is to be paid from the Company's revenue account.
British Land PLC announce dividend of 15.04p per share In October, British Lands announced the intention to resume paying dividends semi-annually, calculated at 80% of Underlying EPS based on the most recently completed six-month period. Applying this policy, the Board are proposing a final dividend for the year ended 31 March 2021 of 6.64p per share. Payment will be made on Friday 6 August 2021 to shareholders on the register at close of business on Friday 25 June 2021. The dividend will be a Property Income Distribution and no SCRIP alternative will be offered.
SSE PLC recommend a final dividend of 56.6p per share SSE have announced an intention to recommend a final dividend of 56.6p per share for payment on 23 September 2021, representing an average annual RPI rate of 1.2%, making a full-year dividend of 81.0p per share.
Shaftesbury declare an interim dividend 2.4p per share As a REIT, Shaftesbury are required to distribute a minimum of 90% of rental profits, calculated by reference to tax rather than accounting rules, as a PID. The Board has declared an interim dividend of 2.4p per share, to fulfil the Group's PID requirements for the year end 30 September 2020. The distribution, totalling £9.2 million, will be paid on 2 July 2021.
Warehouse REIT declared dividends of 6.2 pence per share in respect of the year, in line with target The Warehouse REIT target for the year was to pay a total dividend of 6.2 pence per share, which they have achieved by declaring four quarterly dividends of 1.55 pence each. The fourth quarterly dividend was declared today and will be paid on 30 June 2021 to shareholders on the register on 4 June 2021. The total dividend for the year was 85.8% covered by adjusted earnings per share, reflecting the short-term dilution of their earnings due to the timing difference between raising new equity capital and deploying it in income-generating assets. For the year ending 31 March 2022, they continue to target a total dividend of 6.2 pence.
Speedy Hire announce dividend payments resumed with final dividend of 1.40p per share proposed As a result of the COVID-19 pandemic the Speedy Hire Group utilised Government support schemes and implemented cost reduction measures across the business that affected colleagues and other stakeholders. As a consequence the Board resolved not to pay a final dividend for FY2020 nor an interim dividend for FY2021. Following the strong performance in the second half of the year and the robust balance sheet, the Board is recommending a final dividend of 1.40 pence per share for the year ended 31 March 2021. If approved at the forthcoming Annual General Meeting the dividend will be paid on 24 September 2021 to shareholders on the register at close of business on 13 August 2021.
Electrocomponents announce a 3.2% growth in full-year dividend As highlighted in the Annual Report and Accounts for the year ended 31 March 2020, the Electrocomponents Board deferred the decision on the final dividend for that year until the impact of COVID-19 on activity levels and cash generation in the Group's key markets had become clearer. They have stated that the Board recognised the importance of its progressive dividend policy to its shareholders and would therefore review making an additional interim dividend payment related to the year ended 31 March 2020 at the Group's half-year results in November 2020.
AVEVA announce a proposed final dividend of 23.5 pence, representing a small increase versus the prior year after adjusting for the rights issue bonus factor The AVEVA Directors propose to pay a final dividend of 23.5 pence per share. After adjustment to reflect the bonus element of the Rights Issue, this represents an increase of 1% versus the FY20 final dividend. The final dividend will be payable on 4 August 2021 to shareholders on the register on 9 July 2021.
Avon Rubber announce an interim dividend per share of 14.3c, up 30.0% The Avon Rubber Board has declared an interim dividend of 14.3c per ordinary share, an increase of 30% on the 2020 interim dividend reflecting their continued commitment to a progressive dividend policy. This will be paid on 3 September 2021 to shareholders on the register on 6 August 2021. Following the change in reporting currency, dividends for the 2021 financial year and beyond will be set in U.S. dollars and converted into pounds sterling for payment at the prevailing exchange rate immediately prior to payment.
Big Yellow announces a 0.6% increase in total dividend to 34.0 pence per share The Big Yellow Group's dividend policy is to distribute 80% of full year adjusted earnings per share. The final distribution of PID and ordinary dividend declared is 17.0 pence per share. This brings the total distribution declared for the year to 34.0 pence per share representing an increase of 0.6% from 33.8 pence per share last year.
Helical PLC announce a final dividend proposed of 7.40p per share, an increase of 23.3% The Helical Board is proposing a return to the level of dividends paid in respect of the year to 31 March 2019 and will be recommending to Shareholders a final dividend of 7.40p per share, an increase of 23.3% on last year (6.00p). If approved by Shareholders at the 2021 AGM, the total dividend for the year will be 10.10p, up 16.1% on 2020.
Kainos Group PLC announce a proposed final dividend of 15.1p per share As part of the Covid-19 related cost reduction measures, the Kainos Board elected not to declare a final dividend for the year ended 31 March 2020. In light of the Group's performance, during the period, and following the repayment of the monies originally claimed under the furlough schemes, a special dividend of 6.7 pence per share (£8.2 million) was approved by the Board and paid on 4 September 2020 to shareholders on the register at the close of business on 7 August 2020.
Investec have proposed a final dividend of 7.5p bringing the full year dividend to 13.0p The Investec board has proposed a final dividend of 7.5p, resulting in a total dividend of 13.0p for FY2021 with a net payout ratio of 45%. The dividend has been arrived at after taking current regulatory guidance into consideration.
IntegraFin Holdings announces an interim dividend of 3.0 pence per share During the six month period to 31 March 2021, the IntegraFin Company paid a second interim dividend of £18.6 million to shareholders in respect of financial year 2020. This was in addition to the first interim dividend of £8.9 million, which was paid in June 2020. The financial year total of £27.5 million compares with a full year interim dividend of £25.8 million in respect of the full financial year 2019.
Qinetiq announces a final dividend of per share 4.7p The Qinetiq Board proposes a final FY21 dividend per share of 4.7p (2020: 4.4p) making the full year dividend 6.9p (2020: 6.6p). The full year dividend represents an increase of 5% in line with the Group's progressive dividend policy.
National Grid announces a recommended final dividend to bring full year dividend to 49.16p, up 1.2%, in line with policy. For 2020/21, the National Grid PLC Board has recommended an increase in the final dividend to 32.16 pence per ordinary share ($2.2812 per American Depositary Share) which will be paid to shareholders on the register as at 4 June 2021. If approved, this will bring the full year dividend to 49.16 pence per ordinary share, an increase of 1.2% over the 48.57 pence per ordinary share in respect of the financial year ending 31 March 2021. This rise is in line with the increase in UK RPI for the twelve months to 31 March 2021 as set out in the policy announcement of 28 March 2013.
Games Workshop Group PLC announces a dividend of 50 pence per share Games Workshop Group PLC announces that the Board has today declared a dividend of 50 pence per share, in line with the Company's policy of distributing truly surplus cash. This will mean that total dividends declared in the 2020/21 financial year will be 235 pence per share (2019/20: 145 pence per share). The dividend of 50 pence per share will be paid on 5 July 2021 for shareholders on the register at 28 May 2021, with an ex-dividend date of 27 May 2021. The last date for elections for the dividend re-investment plan is 14 June 2021.
Royal Mail announce a 10p one-off final dividend proposed in respect of 2020-21 The Royal Mail Board has reviewed the performance of the Group during the past year and concluded that it is appropriate to pay a one-off final dividend of 10 pence per share in respect of FY2020-21, payable on 6 September 2021 to shareholders on the register at 30 July 2021, subject to approval at the 2021 AGM on 21 July 2021.
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