The Wynnstay Board is to propose a final dividend of 10.00p per share. Together with the interim dividend of 4.60p per share, paid on 31 October 2020, this takes the total dividend for the year to 14.60p, an increase of 4.3% on last year (2019: 14.00p).
The final dividend will be paid on 30 April 2021 to shareholders on the register on 6 April 2021, subject to shareholder approval at the AGM. A scrip dividend alternative will continue to be available as in previous years. The last date for election for the scrip dividend will be 16 April 2021.
Other financial highlights include:
Resilient results in a year of unprecedented challenges for the sector
- historically poor 2019 autumn planting season and 2020 UK harvest at 20 year low
- subdued farmer confidence and investment, reflecting weaker farmgate prices in H1 and Brexit uncertainty
- coronavirus pandemic
Revenue of £431.40m (2019: £490.60m), affected by commodity deflation and reduced volumes in certain traded commodities, in particular grain
Increase in underlying pre-tax profit, up 4% to £8.37m (2019: £8.01m)/ Reported PBT of £6.98m (2019: £7.55m)
Basic earnings per share, including non-recurring items, of 27.73p (2019: 30.95p)
Net cash at year end increased to £8.42m; £14.71m before IFRS 16 implementation (31 October 2019: £3.84m before IFRS 16 implementation )
Net assets increased to £98.18m/£4.92 per share at year end (31 October 2019: £94.95m/£4.79 per share)