Hunting declare interim dividend of 5.0 US cents
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.
Other financial highlights include:
15% increase in revenue reported in the period as performance of US, EMEA and Asia Pacific segments deliver growth.
Gross margin of 29% (H1 2018 - 31%) and EBITDA margin of 15% (H1 2018 - 16%) achieved in the period - impacted by Hunting Titan.
Strong net cash position reported at 30 June 2019 of $33.4m, which includes $47.1m for lease liabilities (Net cash reported at 30 June 2018 of $39.0m and 31 December 2018 of $61.3m both exclude lease liabilities).
The Group generated a statutory cash inflow of $19.6m in the period.
Adoption of IFRS 16 Leases from 1 January 2019 benefits EBITDA with the removal of $4.6m of lease costs at the half year point. On a like-for-like basis EBITDA is in line with H1 2018. Prior period financials have not been restated for IFRS 16, as the standard is being adopted with effect from 1 January 2019. Additional depreciation of $4.0m in the half year is charged to the income statement on the capitalised lease assets and accordingly operating profit benefits by a net $0.6m at the half year point. Additional finance charges of $1.1m are recognised in the half year results and result in a net $0.5m deterioration in profit before tax from the adoption of IFRS 16. The balance sheet as at 30 June 2019 now reflects capitalised right-of-use assets of $39.6m and $47.1m of lease liabilities.
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.Read more
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.Read more
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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.Read more
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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).Read more