Accuracy Coverage Pricing Help Centre Contact

McCarthy and Stone announce a maintained total dividend of 5.4p per share

Investment Tools Ltd.
McCarthy and Stone announce a maintained total dividend of 5.4p per share

The McCarthy and Stone Directors are proposing a final dividend of 3.5p per share, maintaining a total dividend for the year at 5.4p per share (2018: 5.4p per share) reflecting the Board's confidence in the Group's strategy despite lowering profits.

Other financial highlights include:

During the 14 month period ended 31 October 2019 revenue increased to £725m (2018: £672m) supported by a 3% increase in average selling price to c.£308k (2018: £300k) and total legal completions of 2,301 units (2018: 2,134).

Underlying operating profit was at £68m (2018: £68m), while the underlying operating profit margin decreased to 9.4% (2018: 10.1%). This reduction in margin percentage was mainly driven by an increased usage of part-exchange and incentives to counteract subdued market conditions.

Profit before tax decreased to £43m (2018: £58m), with £17m of exceptional costs incurred during the period, mainly representing the cost of land which will no longer be developed net of any residual land value to be recovered, redundancy costs and consultants' fees in relation to the strategic review.

Underlying basic earnings per share marginally increased to 9.5p (2018: 9.2p).

Basic earnings per share decreased to 6.5p (2018: 8.6p).

Strong balance sheet, with year-end net cash of £25m (2018: £4m) notwithstanding the increased level of in-house part-exchange transactions and the seed portfolio of rental properties currently held on the balance sheet prior to their onward sale to a strategic rental partner. 

As at 31 October 2019, the Group held a portfolio of 101 let retirement rental units. This portfolio of rental assets has been accounted on the balance sheet as investment properties and valued at £27.6m based on a valuation carried out by independent valuation consultants. The associated revaluation uplift of £5.9m (2018: nil) has been recognised within 'other operating income' on the income statement.

Companies mentioned

Latest News

Investment Tools Limited

888 announces with its interim results, that its board of directors have approved an interim dividend comprising 3.2¢ cents per share plus an additional one-off 2.8¢ cents per share bringing the total to 6.0¢ cent per share to holders of 888's ordinary shares.

Read more
Investment Tools Limited

Early in the pandemic, the Air aprtner Board decided to suspend the declaration of dividends to shareholders to reflect the uncertain operating climate. Although that uncertainty persists, the Board considers it appropriate to recommence some payment now to recognise the importance of dividends to Air Partner's shareholders, many of whom are private investors. However, they believe it prudent to maintain the strength of the Group's balance sheet and to ensure that there are sufficient resources to fund future growth. Accordingly, the Board is recommending an interim dividend of 0.80p per share, down 55.6% from last year's 1.80p. The Board's objective is to establish a level of dividends that is sustainable, well covered by the Group's earnings, and that can be increased over time. The level of this interim dividend is consistent with this policy. 

Read more
Investment Tools Limited

Consistently rising profits and as having a historically conservative business approach has enabled over 10 years of steadily increasing dividends. Current trends and their desire for future sustainability demand an adjustment now. Therefore they propose to pay a first interim dividend this year of 22p per ordinary share (2019: 34p) to be followed by further payments in March and July next year. This dividend will be paid on the 20 November 2020 to shareholders on the register on the 30 October 2020. This payment represents a sensible balance between prudence in uncertain times and fundamental confidence in the business as the economy returns to a new normal.

Read more
Investment Tools Limited

ThFerguson e Board decided to withdraw the interim dividend for the year ended July 31, 2020 which was due for payment on April 30, 2020 due to the significant uncertainty around the impact and duration of the COVID-19 disruption.

Read more
Investment Tools Limited

On 25 March 2020, the Animalcare Group announced the deferral of its final dividend for 2019, preserving cash of £1.4m, with the aim of supporting financial strength and providing a platform to continue progressing opportunities during the global COVID-19 pandemic. They noted that the decision would be reviewed later in the financial year once they had more clarity about the ongoing effects of the pandemic business, at which time any decision will consider what actions are in the best interest of long-term shareholder value.  

Read more
Investment Tools Limited

The Chesnara financial results support the continued growth of the interim dividend to 7.65p per share (2019 interim: 7.43p per share)

Read more
Investment Tools Limited

The Smiths Group Board maintains a progressive dividend policy, aiming to increase dividends in line with long-term underlying growth in earnings and cash-flow. The policy enables them to retain sufficient cash-flow to finance investment in the drivers of growth and meet 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 times.

Read more
Investment Tools Limited

The Hansard Board has proposed a final dividend of 2.65p per share, the same level as last year. In making this proposal, the Board has carefully considered its current financial position and future outcomes under a range of plausible adverse scenarios taking into account Covid-19.

Read more
Investment Tools Limited

The PZ Cussons Board is recommending a final dividend of 3.13p (2019: 5.61p) per share, making a total dividend for the year of 5.80p (2019: 8.28p) per share. The gross amount for the proposed final dividend is £13.1 million (2019: £23.5 million). 

Read more
Investment Tools Limited

The Alliance Pharma board have announced that, after suspending the final dividend payment for 2019 in response to the COVID-19 pandemic, it is declaring an interim dividend payment of 0.536p per share for 2020, in line with that for 2019. The Board will continue to assess the level of future cash distributions having regard to overall business performance and future outlook, in light of the global uncertainty created by COVID-19

Read more
More News