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Midwich upgrades guidance, to resume dividends
StockMarketWire.com
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Specialist audio visual distributor Midwich upgraded its annual profit expectations and said it would resume dividend payments.
The resumption of payouts would start with a special dividend of 3p per share, to be paid on 2 July to shareholders on the register at 21 May.
Midwich also was expecting to pay both interim and final dividends for the current financial year, chairman Andrew Herbert said in a trading update for its annual general meeting.
'Despite further significant lockdowns in early 2021, trading in the first four months of the year has been ahead of the board's expectations, and significantly ahead of the comparative period last year,' Herbert said.
'Although a number of the group's end-user markets are expected to remain subdued for some time, good progress has been made in the rest of the business and all government employment support has now ceased.'
'Should vaccine programmes continue to progress successfully in the group's key markets, the board now expects that revenue and profit for the full year will be comfortably ahead of its original expectations.'
At 8:36am: (LON:MIDW) Midwich Group PLC share price was 0p at 390p
Story provided by StockMarketWire.com
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