Recent articles for private investors with a focus on dividend announcements
1 London Stock Exchange listed company has made COVID-19 related dividend announcements today
There has been one cancelled dividend today, this is:
Winkworth plc declare they will pay a dividend of 1.68p per ordinary share
The Directors of M Winkworth Plc ("Winkworth" or the "Company") have announced that the Company will pay a dividend of 1.68p per ordinary share for the first quarter of 2020 to shareholders.
888 Hold's announce a final dividend of 3.0¢ per share
888, a popular online gaming entertainment and solutions providers, announces that its board of directors has recommended the payment of a final dividend comprising 3.0 cents per share.
7 London Stock Exchange listed companies have made COVID-19 related dividend announcements
There has been a number of cancelled and suspended dividends today, these include:
Chesnara announce a 3% dividend increase to 7.43p per share
During 2019 Chesnara continued to deliver strong cash generation, funding the dividend strategy as well as maintaining a robust group solvency ratio. Economic Value increased significantly as a result of favourable economic conditions, despite the impact of a substantive foreign exchange loss due to currency fluctuations. Prudent financial and operational management has resulted in Chesnara's operations, solvency and dividends all being resilient to the impacts of Covid-19, however the Economic Value will have fallen subsequent to the year end.
5 London Stock Exchange listed companies have made COVID-19 related dividend announcements
There has been a number of cancelled dividends today, these include:
List of Companies Cancelling UK Dividends in March and April 2020
For a listed company to cancel a declared dividend is very rare. In the past we've seen this perhaps once per year globally.
S & U announces a final dividend of 50p per ordinary share to be paid on 10 July 2020
S & U recommend a payment of a final dividend of 50p per ordinary share (2019: 51p) to shareholders on the register at the 19th June 2020. This means that total dividends this year will be 120p per share (2019: 118p) with this total dividend being again covered nearly exactly twice (2019: 1.98). As usual, final dividend will be subject to the approval of shareholders at our AGM, which will now be held by remote means on 9th June 2020.
Trixtax announces 2020 dividend guidance withdrawn, but quarterly dividends to continue
In conjunction with its annual results on 17 March 2020, the Company confirmed a dividend target of 7.0p per share for FY2020. Given the necessary UK Government intervention in response to COVID-19 since that date, visibility over the economic impact and duration of the pandemic has reduced significantly. This has resulted in a slowdown in the occupational markets and increased the likelihood of delays in areas such as planning and construction. The Board therefore considers it prudent to withdraw its dividend guidance for the current financial year.
Tesco Plc announces a final dividend 6.50p, representing a pay-out ratio of 50%
The proposed Tesco final dividend was approved by the Board of Directors on 7 April 2020 and is subject to the approval of shareholders at this year's Annual General Meeting. The final dividend will be paid on 3 July 2020 to shareholders who are on the register of members at close of business on 22 May 2020 (the Record Date). Shareholders may elect to reinvest their dividend in the Dividend Reinvestment Plan (DRIP). The last date for receipt of DRIP elections and revocations will be 12 June 2020.
Capital & Regional have announced they will maintain their dividend, while monitoring the ongoing developments of COVID-19
Within its Year End Results announcement on 5 March 2020 the Company proposed a final dividend for the year ending 30 December 2019 of 11 pence per share.
Intercontinental Hotels withdraws dividend
The intercontinental Hotels Board is withdrawing its recommendation of a final dividend of 85.9¢ (~$150m) announced on 18 February 2020 and will defer consideration of further dividends until visibility has improved.
Travis Perkins suspends dividend
Due to the rapidly evolving situation and the UK Government response to the impact of COVID-19, the Travis Perkins Board expects the trading environment to change quickly and materially in the coming weeks. In response to this, the Board is taking prudent decisions in order to successfully navigate this period of turmoil. These include the suspension of the proposed full-year 2019 dividend and the pausing of the Wickes demerger process in light of current extreme stock market volatility.
Wetherspoons announce a 31.2% interim dividend cancelled
In view of current uncertainty, the board has decided to cancel the interim dividend (2019: £4.2m).
Marks & Spencers declare they will not be paying a final dividend due to ongoing concerns of COVID-19
In the current circumstances the Marks & Spencer Board does not anticipate making a final dividend payment for this financial year, resulting in an anticipated cash saving of c.£130m. They will review their policy at the interim results in November as visibility improves.
ScS announces a maintained interim dividend of 5.50p per share
The Group has continued to generate strong cash flows, deliver growth and build a balance sheet of increasing resilience. As a consequence, the Board has announced an interim dividend of 5.50p per ordinary share (2019: 5.50p). This dividend will be payable on 7 May 2020 to shareholders on the register on 17 April 2020. The ex-dividend date is 18 April 2020.
Next announces they will defer dividend
Next has decided to defer a decision on its dividend declaration. It is their usual practice at this time of the year to propose a final ordinary dividend to be paid at the start of August, subject to approval by shareholders at the Annual General Meeting held in May. However, given the highly unusual circumstances arising from the coronavirus, but they believe it is important to maintain flexibility around the timing of a decision to pay this dividend.
Sanne Group announce a final dividend of 9.4p, reflecting the Board's confidence in the prospects of the Group consistent with the Group's progressive dividend policy
The Sanne Board continues to adopt a progressive dividend policy where it seeks to increase the absolute value of the dividend each year, subject always to maintaining a sufficient level of dividend cover. Accordingly, the Board is recommending a final dividend of 9.4 pence per ordinary share (2018: 9.2 pence). The final dividend will be payable on 20 May 2020 to Shareholders on the register at close of business on 24 April 2020.
TClarke has proposed a final dividend of 3.65p, with the total dividend for the year increasing by 10% to 4.4p. The dividend is covered four times by underlying earnings. The increase in dividends is in line with TClarke's progressive dividend policy.
The TClarke Directors are proposing a final dividend of 3.65p (2018: 3.34p) per ordinary share totalling £1.6 million (2018: £1.4 million). Subject to approval at the Annual General Meeting, the final dividend will be paid on 22nd May 2020 to shareholders on the register as at 24th April 2020. The shares will go ex-dividend on 23rd April 2020. This dividend has not been accrued at the balance sheet date. A dividend reinvestment plan is available to shareholders.
Portmeirion cut dividend
Due to the unprecedented uncertainty facing businesses around the world from Covid-19, Portmeirion are not recommending a final dividend at this time. They will review in three months and consider declaring an additional interim dividend in line with the final dividend for 2018 (29.50p). This will preserve approximately £3.1 million in forecast cash as part of Covid-19 contingency measures.
OneSavingsBank announce a recommended final dividend of 11.2 pence per share which gives a full year dividend of 16.1 pence per share.
The OneSavingsBank Board recommends a final dividend for 2019 of 11.2 pence per share. Together with the 2019 interim dividend of 4.9 pence per share and the pre-Combination CCFS interim dividend of 4.3 pence per share, this represents 25% of pro forma underlying profit attributable to ordinary shareholders. For calculation of 2019 final dividend, see Appendix.
Crest Nicholson cuts dividend due to concern surrounding COVID-19
Crest Nicholson today issued an update on the impact of COVID-19 on the business and in advance of its Annual General Meeting ("AGM") which will be held at 10.30 a.m. on Tuesday 24 March 2020 at Brooklands Hotel, Brooklands Drive, Weybridge, Surrey KT13 0SL.
Playtech cut dividend following the continued uncertainty surrounding the COVID-19 virus
Playtech plc ("Playtech") provides the following update on the impact of COVID-19. Given the uncertainty and rapidly changing nature of the situation, Playtech is working to protect its cash flow by pro-actively managing its capital expenditure and working capital as well as identifying opportunities for cost savings that will not impact the long-term success of the Company.
NewRiver REIT cut dividend
The NewRiver REIT have announce their focus is on managing cash resources very carefully and maintaining liquidity in the business. The Company has £72 million of unrestricted cash reserves and £45 million of undrawn revolving credit facilities, giving available liquidity of £117 million.
Centaur Media are proposing a final dividend of 0.5p per share in accordance with new dividend policy
Centaur is proposing a final dividend payment of 0.5p per share, payable on 29th May 2020. The Board was intending to propose the payment of another special dividend in May 2020 but has decided to defer this decision until there is more visibility around the impact of the coronavirus on the Group's cash flows.
Ferrexpo have decided to defer their decision on their final dividend
Ferrexpo has total dividends declared for the 2019 financial year that amount to 13.2 US cents per share (2018: 23.1 US cents per share). The Board is committed to dividends and intends to consider a potential final ordinary and/or special dividend for the 2019 financial year once the general market situation and the effect of the COVID-19 virus has become clearer. Overall, in 2019 the Group paid out dividends of US$155 million, a 60% increase compared to 2018 (US$97 million), and has paid US$40 million so far in 2020.
Micro Focus overturns their declared dividend
Micro Focus International plc ("Micro Focus" or "the Company") today announces that the Board is no longer recommending a final dividend for the year ended 31 October 2019 and therefore it intends to withdraw resolution number 2 as set out in the Notice of Annual General Meeting dated 18 February 2020 (the "Notice") relating to the approval of a proposed final dividend of 58.33 cents per ordinary share at its forthcoming Annual General Meeting.
Morrisons have declared a final ordinary dividend of 4.84p, taking the full-year ordinary dividend to 6.77p, and full-year total dividend to 8.77p, however they have deferred any special dividend to allow maximum flexibility
The Morrisons Directors have proposed a final ordinary dividend in respect of the financial period ended 2 February 2020 of 4.84p per share which will absorb an estimated £116m of shareholders' funds. Subject to approval at the AGM, the final dividend will be paid on 29 June 2020 to shareholders who are on the register of members on 22 May 2020.
Eurocell final dividend of 6.4 pence per share (2018: 6.2 pence per share) up 3%
Eurocell plc paid an interim dividend of 3.2 pence per share in October 2019. The Board proposes a final dividend of 6.4 pence per share, resulting in total dividends for the year of 9.6 pence per share, representing growth of 3%
Computacenter propose a final dividend of 26.9 pence per share
The Computacenter Board propose a final dividend of 26.9 pence per share. The interim dividend paid on 11 October 2019 was 10.1 pence per share. Together with the final dividend, this brings the total ordinary dividend for 2019 to 37.0 pence per share, representing a 22.1 per cent increase on the 2018 total dividend per share of 30.3 pence.
Marshalls announce a recommended final ordinary dividend increased by 21% to 9.65 pence per share
The Marshalls Group continues to follow a progressive dividend policy aimed at achieving up to 2 times earnings cover over the business cycle. For the current year, the Board is recommending a final dividend of 9.65 pence per share (2018: 8.00 pence per share) which, together with the interim dividend of 4.70 pence per share (2018: 4.00 pence per share), makes a combined dividend of 14.35 pence per share (2018: 12.00 pence per share), an increase of 20 per cent for the year.
Savills announce a final ordinary and supplementary interim dividends up 3% to total 32.0p per share
An initial interim dividend of 4.95p per share (2018: 4.8p) amounting to £6.7m was paid on 2 October 2019, and a final ordinary dividend of 12.05p (2018: 10.8p) is recommended, making the ordinary dividend 17.0p for the year (2018: 15.6p).
Cineworld have declared full year dividend of 15.5 cents up 3.3%
The Cineworld Board now pays four interim dividends for each financial year. Payments in relation to the first three quarters of the year were equal to 25% of the full year dividend of the prior year, with the final payment reflective of the Group's full year earnings performance and resulting in a full year dividend payment aligned with the Group's pay-out ratio.
Arrow Global announce full year dividend up 3.1% to 13.1p
The 2019 interim dividend was declared at 50% of the 2018 final dividend. A final dividend for 2019 has been proposed of 8.7p, bringing the total dividend for the year to 13.1p being 40% of underlying profit after tax. The proposed final dividend is subject to approval at the annual general meeting and has, therefore, not been included as a liability in these financial statements.
Bodycote announces a full year ordinary dividend 20.0p, up 5.3%
The Bodycote Board has recommended a final ordinary dividend of 14.0p (2018: 13.3p), bringing the total ordinary dividend to 20.0p (2018: 19.0p). In light of the imminent acquisition of Ellison Surface Technologies, the Board is not recommending a special dividend this year (2018: 20.0p). If approved by shareholders, the final ordinary dividend will be paid on 5 June 2020 to shareholders on the register at the close of business on 24 April 2020.
Galliford Try announce interim dividend of 1.0p declared
The Galliford Try directors have reviewed the Group's results and outlook for the current financial year and have declared an interim dividend of 1.0p per share which will be paid on 17 April 2020 to shareholders on the register at close of business on 20 March 2020.
Equiniti recommend a final dividend of 3.54 pence per share, to give a total dividend for the year of 5.49 pence per share, representing growth of 3.2% in line with progressive dividend policy
The Board continues to adopt a progressive dividend policy, which targets distributing c30% of the Group's underlying profit attributable to shareholders each year. Having paid an interim dividend of 1.95 pence per share, they are proposing a final dividend of 3.54 pence per share. This will give a total dividend for the year of 5.49 pence, up 3.2% on the 5.32 pence paid in respect of 2018.
Go-Ahead announces a maintained interim dividend at 30.17p
The Go-Ahead Board proposes an interim dividend of 30.17p (H1'19: 30.17p). This is payable on 17 April 2020 to shareholders registered at the close of business on 27 March 2020.
Brooks Macdonald announce an interim dividend up by 10.5% to 21.0p in line with the Group's progressive dividend policy
In line with the Group's progressive dividend policy, the Board has declared an interim dividend of 21.0 pence (H1 FY19: 19.0 pence). This represents an increase of 10.5% compared to the previous period. The interim dividend will be paid on 24 April 2020 to shareholders on the register as at 27 March 2020.
FDM announce a final dividend of 18.5 pence per share giving a total ordinary dividend for the year of 34.5 pence, an increase of 15% on 2018
The FDM Group continues to apply a progressive dividend policy, aimed at increasing the annual dividend broadly in line with growth in the Group's earnings per share, whilst taking into account the Board's desire to maintain a cash buffer of approximately £30 million at a Group level, the ongoing needs for funding of organic growth across the business and the distributable reserves available to the Group. They intend to pay a final dividend of 18.5 pence per share, taking the total ordinary dividend to 34.5 pence per share, an increase of 15% on 2018.
G4S announce a maintained final dividend of 6.11p per share
Following the conventional cash sale, the G4S Board has reviewed the Group’s dividend policy. The Board has decided to maintain the total dividend for the year ended 31 December 2019 and will propose a final dividend of 6.11p per share bringing the total dividend for the year to 9.7p per share in line with the prior year. This represents underlying dividend cover of 1.75x based on 2019 earnings per share. Going forward the Board believes that the Group should maintain the dividend at the current level and rebuild dividend cover to 2x. Once this level of cover is reached, the Board intends to adopt a progressive dividend policy taking into account a range of factors including the progress of the global economy, the performance of the business as measured by underlying earnings and cash flow, the requirements for capital within the business and the expected performance of the business going forward.
Quilter announces a recommended final dividend of 3.5 pence per share, bringing the total dividend for the year to 5.2 pence per share
The Quilter Board has recommended a final dividend of 3.5 pence per share at a total cost of £65 million. Subject to shareholder approval, the recommended final dividend will be paid on 18 May 2020 to shareholders on the UK and South African share registers on 3 April 2020. For shareholders on their South African share register a dividend of 72.78519 South African cents per share will be paid on 18 May 2020, using an exchange rate of 20.79577. This will bring the dividend for the full year to 5.2 pence per share (2018: 3.3 pence per share).
Spirax-Sarco announces a final dividend increased by 10% to 78.0p
The interim dividend for 2019 for Spirax-Sarco, paid on 8th November 2019, was raised by 10% to 32.0 pence per share (2018: 29.0 pence per share). The Board is recommending an increase in the final dividend of 10% to 78.0 pence per share (2018: 71.0 pence). Subject to approval of the final dividend by shareholders at the Annual General Meeting (AGM) on 13th May 2020, the total Ordinary dividend for the year will be 110.0 pence per share, an increase of 10% over the 100.0 pence per share for the prior year.
Balfour Beatty announce a 33% increase in full year dividends to 6.4 pence
Following the 2.1 pence per ordinary share interim dividend declared at the half year, the Balfour Beatty Board is recommending a final dividend of 4.3 pence per share, giving a total recommended dividend for the year of 6.4 pence per share (2018: 4.8 pence). The Board recognises the importance of dividends to shareholders and expects to deliver a continuation of the progressive dividend policy.
Standard Life Aberdeen announce a final dividend of 14.3p, giving full year dividend of 21.6p
The Standard Aberdeen Board is recommending a final dividend for 2019 of 14.3p (2018: 14.3p) per share. Subject to shareholder approval, this will be paid on 19 May 2020 to shareholders on the register at close of business on 3 April 2020.
Menzies (John) plc announces a cut dividend in the wake of the impact of the COVID-19 virus
The Menzies (John) plc Board has declared it is focused on delivering profitable growth in the 2020 full year and given the previously stated impact of COVID-19 on the operations of the Group and the ongoing uncertainty of the extent of the impact on the aviation industry, the Board believes it prudent, and in the best interests of shareholders, to suspend the dividend temporarily.
M&G announce an ordinary dividend of 11.92 pence per share and special demerger dividend of 3.85 pence per share
As announced by M&G at the time of demerger an Ordinary Dividend of 11.92 pence per share will be paid on 29 May 2020. Consistent with their dividend policy the expected 2019 Ordinary Dividend is broadly two-thirds of the amount that the Board would have anticipated paying in respect of the full year 2019 as a standalone business.
DFS Furniture announce a maintained interim dividend of 3.7p declared
The Board remains confident in the Group's outlook. While they continue to operate outside their targeted dividend payout of 40-50% of underlying cash generation, based upon the Group's outlook, they are comfortable maintaining the interim dividend at 3.7 pence. As stated in their published Capital and Distribution Policy, should the outlook worsen and underlying cash flow generation not cover the current level of ordinary dividends, they would if necessary reduce or halt dividends. However, they expect profit and cash generation growth which should enable them to return to the targeted payout range in the foreseeable future.
Ultra Electronics announces a total dividend per share of 54.2p
Ultra Electronics have announces a 2019 proposed final dividend of 39.2p (2018: 37.0p) per share which is proposed to be paid on 18 May 2020 to shareholders on the register at 24 April 2020 subject to approval at the Annual General Meeting. This will result in a final full year dividend of 54.2p (2018: 51.6p), which will be covered 2.2 times by underlying earnings per share.
Close Brothers plc have declared an interim dividend per share of 22.7p, up 3%, in line with their progressive dividend policy
Close Brothers plc have announced an interim dividend of 22.7p (2019: 22.0p) represents an increase of 3% from the prior year and reflects our commitment to a progressive dividend policy, which aims to grow the dividend year on year while maintaining a prudent level of dividend cover. The interim dividend is due to be paid on 22 April 2020 to shareholders on the register at 20 March 2020.
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