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Somero Enterprises ups special dividend as performance improves in second half
StockMarketWire.com
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Concrete levelling technology group Somero Enterprises reported a 9% fall in annual profit after the pandemic disrupted some construction projects.
Pre-tax profit for the year through December decreased to $24.6 million, down from $27.0 million year-on-year, as revenue edged back 1% to $88.6 million.
Somero Enterprises declared an ordinary dividend of £0.1681 per share, down 10% year-on-year, but it more than doubled its supplementary payout to $0.181, up from $0.077.
Combined, the payouts amounted to $0.3491, up 32% from the combined year-on-year payout of $0.2645.
The company said trading in each of its six regions grew in the second half compared to the first, led by North America.
'We closed the period with the strongest cash position in company history and are well positioned to make investments that will drive long-term growth in new and existing markets by expanding our product offering,' chief executive Jack Cooney said.
'We are excited by the opportunities that lie ahead and confident in our strategy and ability to deliver strong results and dividends for our shareholders.'
Story provided by StockMarketWire.com
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