The Johnson Matthey group maintains a strong balance sheet, good access to liquidity and is cash generative. In a challenging period, operating performance improved progressively through the first half, although remains below the prior year with heightened levels of uncertainty persisting. In considering all these factors and recognising the importance of dividends to shareholders, the board has approved an interim dividend of 20.0 pence per share (1H 2019/20: 24.5 pence per share).
The board remains committed to a progressive dividend and anticipates restoring future dividend payments to levels seen prior to the COVID-19 pandemic when circumstances permit. The interim dividend will be paid to shareholders on 4th February 2021, with an ex dividend date of 26th November 2020.
Other financial highlights include:
Reported revenue increased 2% driven by higher average precious metal prices
Reported operating profit declined 74% driven by lower demand in Clean Air and major impairment and restructuring charges of £78 million
Reported EPS declined 87%, reflecting lower reported operating profit and higher net finance charges
Cash inflow from operating activities was £482 million