3i announce dividend increase of 10% to 17.5p per share
In line with their dividend policy, 3i Group will pay a first FY2020 dividend of 17.5 pence, which is 50% of their total FY2019 dividend. This first FY2020 dividend will be paid to shareholders on 8 January 2020.
Other financial highlights include:
Total return of £767 million or 10% on opening shareholders' funds (30 September 2018: £728 million, 10%) and NAV per share of873 pence (31 March 2019: 815 pence) after paying the 20 pence second FY2019 dividend in July 2019.
Good trading performance across the Private Equity portfolio, with underlying earnings growth underpinning a gross investment return of £666 million or 11%. This was driven by assets including Action, Hans Anders and Aspen Pumps.
Considered approach to new investment in Private Equity, with the new investments in Magnitude Software completed and in Evernex announced in the period. We also made seven bolt-on acquisitions for portfolio companies and announced a further since the period end, most of which were self-funded.
We have been working with our Eurofund V ("EFV") investors, and have agreed a transaction to provide liquidity for the fund's investors from the sale of their holding in Action. This transaction values Action at a post-discount enterprise value of €10.25 billion, representing a net multiple of 18.2x 30 September 2019 run-rate EBITDA and 20.3x 30 September 2019 LTM EBITDA. The transaction is scheduled to close in early January 2020.
Good contribution from our Infrastructure business, with a gross investment return of £88 million, or 9%, driven principally by share price appreciation and dividend income from 3i Infrastructure plc ("3iN"). Strong levels of investment activity across our Infrastructure portfolios, with new investments and bolt-on acquisitions completed or announced for 3iN, the 3i European Operational Projects Fund and for our US Infrastructure portfolio.
Positive contribution from Scandlines, which delivered a gross investment return of £44 million in the period, or 8%, driven by good trading performance. Scandlines also completed a refinancing in the period, returning capital proceeds to 3i of £70 million, in addition to dividend income of £21 million. A further £6 million of dividend income was received earlier in the period.
Begbies Traynor declare an increased interim dividend of 0.9p (2018: 0.8p), an increase of 13%, which builds on the increases over the two previous years and reflects their confidence in sustaining their financial track record of earnings growth. They remain committed to a long-term progressive dividend policy which takes account of the market outlook, earnings growth and investment plans.Read more
The Photo-Me Board is declaring a maintained interim dividend of 3.71 pence per Ordinary Share (H1 2019: 3.71 pence per share). This is line with the Board's intention to maintain a total dividend of 8.44 pence per ordinary share for the current financial year ending 30 April 2020.Read more
Since flotation in November 2003, RWS has pursued a progressive dividend policy. The highly cash generative business model and modest capex requirements have allowed for rapid debt repayment, acquisitions, continued organic investment in the business and an increasing dividend.Read more
Diversified Gas & Oil PLC (AIM: DGOC), the U.S. based owner and operator of natural gas, natural gas liquids, oil wells and midstream assets, is pleased to announce that the Board has declared an interim dividend of 3.50 cents per share in respect of the third quarter to the period ended 30 September 2019 (Q3 2018: 3.30 cents).Read more
In line with its policy of providing a progressive dividend, having regard to both underlying profit and cash generation and to sustainability through the economic cycle, the Ashtead Group Plc Board has increased their interim dividend to 7.15p per share (2018: 6.5p per share). This will be paid on 5 February 2020 to shareholders on the register on 17 January 2020.Read more
The Board continues to adopt a progressive dividend policy which is balanced with holding sufficient funds for future investment and their regulatory capital requirements. The Board has proposed a final ordinary dividend of 3.33p per share which takes the total ordinary dividend for the year to 4.83p per share, representing an increase (excluding the special dividend in the previous year) of 31% on the previous year. The final ordinary dividend will be paid, subject to shareholder approval at the Annual General Meeting (AGM) on 22 January 2020, to shareholders on the register at the close of business on 10 January 2020.Read more
With the Group delivering a weaker performance in FY 2019 and some key industrial markets remaining weak, the final dividend will be held flat at 46.14p/share (FY 2018: 46.14p/share), with dividend cover at 1.8x (FY 2018: 2.2x). With year end net cash not exceeding the £85m threshold, no special dividend is proposed.Read more
In line with Clipper's dividend policy and reflecting the Group's earnings growth, the Board is pleased to announce an interim dividend of 3.5 pence per share, which will be paid on 6 January 2020 to shareholders on the register at 13 December 2019. This represents an increase of 9.4% (0.3 pence per share) compared to the interim dividend of 3.2 pence paid in January 2019.Read more
Smith (DS) declares an interim dividend for this half year of 5.4 pence per share (H1 2018/19: 5.2 pence per share). This represents an increase of 4%, demonstrating the confidence of the Board in the outlook for the Group. The dividend will be paid on 1 May 2020 to ordinary shareholders on the register at the close of business on 14 April 2020.Read more
In line with Stock Spirits Group plc progressive dividend policy, their proposed final dividend results in a total dividend for the year up +5.1% on the prior period 'enhanced' dividend, which was paid for the 9 month prior period. The final proposed dividend is 6.31 €cents per share (final dividend for the 9 month to Sept 2018: 6.01 €cents). In total for the year, this results in dividends of 8.94 €cents per share (9 month to Sept 2018: 8.51 €cents per share).Read more