| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
Marshalls to reinstate dividend as sales recover
StockMarketWire.com
|
Landscaping product supplier Marshalls said it would reinstated its dividend even as its annual revenue fell 13%, though on an improving trend.
Revenue for the year through December had dropped to £469 million, down from £542 million year-on-year.
Marshalls said revenue growth had progressively improved since the second half, with sales in recent months ahead of the comparative figures for 2019.
The recovery was being driven by strong demand in the domestic end market and a return to more normal levels of trading in the public sector and commercial end market.
'The board has confirmed its intention to re-instate dividend payments, commencing with a final, full year dividend for 2020,' Marshalls said.
'Distributions will be in line with the group's stated objective of dividends covered twice by earnings over the business cycle.'
Looking ahead, the company said it anticipated out-turns for 2020 and 2021 modestly above current expectations.
'We continue to monitor closely any risk to demand due to the worsening Covid situation in the first quarter, it added.
'We are taking appropriate and timely measures to best mitigate any impact.'
Story provided by StockMarketWire.com
|
|
|
|
|
|
