RE: ?20 Jan 2020 16:10
The PSN long term plan underwrites this years divi at £2.35 and next years at £1.10. given that they paid the second half divi in July and increased the cash balance by £11m over the past 6 months they would seem to have room to increase next years divi towards the present level. they have indicated that further guidance will be given when they present the full year results at the end of February.
The sp is held back by the fact that they operate in a cyclical industry and will only be rerated when they demonstrate that they can maintain the dividend through the cycle