Vivo Energy PLC announce a recommended final dividend of 3.8 cents per share, in line with the full year dividend proposed for 2019

DividendMax Ltd.

Vivo Energy PLC announce a recommended final dividend of 3.8 cents per share, in line with the full year dividend proposed for 2019

Due to the positive performance continuing in Q4, the Vivo Energy Board has recommended a final dividend of 3.8 cents per share ($48 million) in respect of 2020. This is in line with stated progressive dividend policy and equal to the proposed 2019 full year dividend of 3.8 cents, despite the impacts of COVID-19 on the business during the year. If approved at the AGM, the final dividend will be paid to shareholders on 25 June 2021.

Other financial highlights include:

Sales volume fell by 7% due to the impact of COVID-19 on mobility in our markets

Revenue was down 17%, reflecting the lower volumes sold and the lower crude oil price environment  

Gross profit fell 9% to $617 million 

Gross cash unit margin rose to $72/'000 litres due to positive pricing and mix effects in H2 

Strong rebound in the second half drove H2 Adjusted EBITDA of $220 million, slightly ahead of H2 2019, leading to both full year Adjusted EBITDA and EBITDA of $360 million

Net income was down 40% to $90 million, impacted by negative operating leverage due to lower volumes

Diluted EPS of 6 cents and Basic headline EPS of 6 cents, were both 45% below 2019 

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