Sector: Industrial Metals

The Hill & Smith Board has announced that they appreciate the importance of the dividend to shareholders and is announcing the resumption of dividend payments with the declaration of an interim dividend for FY 2020 of 9.2p per share (2019: 10.6p). The interim dividend will be paid on 8 January 2021 to shareholders on the register on 4 December 2020. In deciding the interim dividend, the Board has weighed the Group's trading and outlook against the need to maintain prudent ratios after considering all potential investment opportunities. As previously announced, the proposed 2019 final dividend was withdrawn and will now not be paid. The Board will continue to review the application of its dividend policy but is focused on maintaining dividends that are sustainable and progressive.

Legal & General businesses and balance sheet have shown resilience during the first several months of the COVID-19 pandemic. As a long term company, they take into consideration stakeholders. The Board has declared an interim dividend of 4.93p per share, in line with prior year, in order to maintain flexibility as the economic effect of COVID-19 becomes clearer. The Board will set a final dividend that is prudent, consistent with a risk appetite and in line with their dividend policy.

Ferrexpo has reduced gross debt to US$343 million and increased cash to US$169 million. As a result of the strong cash flow and resulting liquidity position, the Group has announced a further interim dividend of 6.6 US cents per Ordinary Share payable on 26 August 2020 to shareholders on the register at the close of business on 14 August 2020. The ex-dividend date will be 13 August 2020. All dividends are paid in UK Pounds Sterling, with an election to receive in US Dollars.

The interim dividend proposed is £29.8m (30 June 2019: £29.8m), a payout of 4.5p per share (30 June 2019: 4.5p per share). Dividends continue to be satisfied by the Group's free cash, which comprises Retail free cash generated and dividends received from AICL. 

The Segro Board has previously guided that the interim dividend will be set at one-third of the previous year's total dividend. As a result, and consistent with this guidance, the Board has declared an increase in the interim dividend of 0.6 pence per share to 6.9 pence (H1 2019: 6.3 pence), a rise of 9.5 per cent. The Board currently expects to follow its existing policy of targeting a pay-out ratio of 85 to 95 per cent of Adjusted profit after tax when considering the full year 2020 dividend. 

The Spectris Board has reflected on the decision regarding the 2019 final dividend of 43.2 pence per share which was postponed in April. An additional interim dividend of 43.2 pence per share will now be paid on 2 October to shareholders on the register at 11 September. In regard to the first half of 2020, an interim dividend of 21.9 pence has been declared, to be paid on 6 November. There is no change to their progressive dividend policy, which is based on affordability and sustainability.

During the six months ended 30 June 2020, US$101 million was paid (H1 2019: US$39 million) as dividends to the non-controlling interest ("NCI") in Sukari Gold Mine ("SGM"), being the Egyptian Mineral Resources Authority ("EMRA"). 

The Direct Line Board has reflected on the decision regarding the 2019 final dividend of 43.2 pence per share which was postponed in April. An additional interim dividend of 43.2 pence per share will now be paid on 2 October to shareholders on the register at 11 September. In regard to the first half of 2020, an interim dividend of 21.9 pence has been declared, to be paid on 6 November. There is no change to a progressive dividend policy, which is based on affordability and sustainability.

Citing the unprecedented level of uncertainty surrounding COVID19, on 31 March Rotork withdrew their forward guidance for the current year. They retain this position as considerable uncertainty remains, and therefore they are not announcing a dividend in respect of this period today. They are however announcing that they will be paying the previously deferred 2019 final dividend of 3.9p per share. They will consider the dividend payable in respect of the whole of 2020 at the end of the year, and pay this in May 2021.

BP today announced a quarterly dividend of 5.25 cents per ordinary share ($0.315 per ADS), which is expected to be paid on 25 September 2020. The corresponding amount in sterling will be announced on 14 September 2020.