Provident Financial reinstate interim dividend at 9p per share
Continued good recovery of the group underpins the Board's reinstatement of the interim dividend.
Other financial highlights include:
Group profit before tax and bid defence costs up 76.9% to £61.2m (2018: £34.6m).
Group adjusted profit before tax1 of £74.9m (2018: £74.9m), in line with internal plans and the first half of 2018.
Improvement in the annualised return on assets from 5.3% to June 2018 to 7.7% to June 2019, with Vanquis Bank and Moneybarn both delivering returns above the group's target of 10%.
Strategic initiatives well underway to deliver the group's 'Vision for the Future', including a number of product developments, combining online loans capabilities and cost and funding efficiencies.
Further strengthening of the senior management team and Board following the appointments of Neil Chandler as Managing Director of Vanquis Bank, Robert East as Chairman of Vanquis Bank and a member of the group Board and Graham Lindsay to the group Board.
Revolving syndicated facility successfully refinanced from £450m to a planned level of £235m, reflecting a lower funding requirement for the non-bank group now that Vanquis Bank is fully ring fenced and funded with retail deposits.
The Board proposes an interim dividend of 9.0p per share (2018: nil), underpinned by the group's ongoing recovery.
The Schroders group continues to maintain a strong capital position. Accordingly, and reflecting resilient performance, the Board has declared an unchanged interim dividend of 35.0 pence per share (H1 2019: 35.0 pence per share). The dividend will be paid on 24 September 2020 to shareholders on the register at 21 August 2020.Read more
Funds under management (FUM) down 8% to $108.3 billion (31 December 2019: $117.7 billion)Read more
The BAE directors have declared an interim dividend of 13.8p per share in respect of the year ended 31 December 2019, payable in September, being the value of the dividend proposed but subsequently deferred earlier in the year.Read more
As announced on 14 April 2020, as a precautionary measure due to the COVID-19 pandemic, the Board decided to postpone payment of its 2019 final dividend of 39.2 pence per share. Based on the Board's current knowledge, the robust liquidity position, the strong H1 performance and expected full year performance relative to the COVID-19 scenario modelling undertaken, an additional interim dividend equivalent to the postponed full year 2019 dividend of 39.2 pence per share will now be paid on 18 September 2020 to shareholders on the register at 28 August 2020.Read more
A key tenet of FDM's relationship with shareholders is the payment of sustainable dividends at an attractive level. After careful thought, the Board decided against proposing a 2019 final dividend to the Annual General Meeting (originally intended to be set at 18.5 pence per share). At the time, the COVID-19 situation was new, uncertain and difficult to assess. Since then the business has performed at an encouraging level, cash collection has been consistent and cash conversion robust.Read more
Smith & Nephew announce an interim dividend is 14.4¢ per share (28.8¢ per ADS), in line with 2019. This equates to 11.2p per share at prevailing exchange rates as of 27 July 2020. The interim dividend will be paid on 28 October 2020 to shareholders on the register at the close of business on 2 October 2020.Read more
The Rathbone Brothers Board are maintaining their interim dividend at 25p (30 June 2020: 25p). This reflects confidence in their medium-term prospects and the strength of their balance sheet. The record date will be 4 September 2020 and the dividend will be paid on 6 October 2020.Read more
In June the Brunner board declared a first quarterly dividend of 4.67p per ordinary share which was paid on 23 July 2020, a marginal increase on the payment made in the first quarter in the previous year. The board has now declared a second quarterly dividend of 4.67p per ordinary share payable on 16 September 2020 to holders on the register of members at the close of business on 7 August 2020. A Dividend Reinvestment Plan (DRIP) is available for this dividend and the relevant election date is 21 August 2020.Read more