De La Rue announce a dividend cut
The De La Rue Board has decided to suspend future dividend payments in order to manage net debt levels as one of the measures undertaken to respond to the identified material uncertainty.
Other financial highlights include:
IFRS revenue (including "pass-through" revenue on paper contracts) of £232.3m (H1 2018/19: £257.6m) and adjusted revenue of £205.9m (H1 2018/19: £242.0m), reflect a decline in Currency volumes and average price, more than offsetting the significant increase in PA&T revenue.
Adjusted operating profit of £2.2m (H1 2018/19: £17.0m), resulting mainly from the decline in Currency volumes and margin.
IFRS operating loss of £9.2m (H1 2018/19: profit £10.1m), which is stated after significant restructuring charges related to the reorganisation announced in May 2019.
Adjusted basic EPS was a loss of 1.5p (H1 2018/19: 11.2p) and IFRS basic EPS was a loss of 10.7p (H1 2018/19: 5.1p).
Net debt of £170.7m (FY 2018/19: £107.5m), increased mainly due to adverse working capital movement on inventory, final dividend payment, pension funding contributions and capital expenditure. Proceeds of £42m from the sale of International Identity Solutions were received after the end of the reporting period.
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
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
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
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
The Directors have declared an interim dividend of 8.45 pence (H1 2019: 8.20 pence) per share payable on 17 January 2020 to shareholders on the register at 13 December 2019. The dividend declared will absorb an estimated £3,342,000 (H1 2019: £3,247,000) of shareholders funds. The dividend proposed at the year-end was subsequently approved at the AGM in July 2019 and £8,705,000 was paid in the period (H1 2019: £7,606,000 was paid). The cost of dividends in the Statement of Changes in Equity is after adjustments for the interim and final dividends waived by the Vp Employee Trust in relation to the shares it holds for the Group's share option schemes.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
Virgin Money Holdings UK announce ordinary dividend suspended for FY19; progressive and sustainable dividend ambition remains and the Board will reconsider dividends for FY20 in line with normal practiceRead more
An interim ordinary dividend of 23.6 pence per share and an additional interim dividend of 18.4 pence per share have been declared. The total dividend of 42.0 pence per share will be paid in equal instalments of 21.0 pence per share on 30 December 2019 and 9 March 2020.Read more
The Amigo Board is proposing an interim dividend of 3.1p, an increase of 65.8%, from 1.87p. The interim dividend will be paid on 29 January 2020 to ordinary shareholders on the register on 10 January 2020. The ex-dividend date will be 9 January 2020.Read more
In accordance with the dividend policy previously announced, an interim dividend of 0.83p per share will be paid on 10 January 2020 to shareholders on the register at the close of business on 6 December 2019.Read more