Sector: Food and Drug Retailers

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.

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. 

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. 

 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.

In view of current uncertainty, the board has decided to cancel the interim dividend (2019: £4.2m).

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.

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.

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.

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.

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.