2 Mar 2017 07:00
2 March 2017
Stobart Group Limited ("Stobart" or the "Group")
Trading Update and Quarterly Dividend
Stobart Group, the infrastructure and support services group, issues the following trading update prior to the announcement of its results for the year ended 28 February 2017 which is expected to be made on 11 May 2017.
Stobart Group expects underlying results for the year ended 28 February 2017 to be in line with management expectations.
Following the announcement on 24 February 2017 of the acquisition of the remaining interests in its aircraft leasing business, Propius Holdings Limited ("Propius"), and Everdeal Holdings Limited, the holding company of Stobart Air, the results for the year ended 28 February 2017 will incorporate the results of Propius and Stobart Air within Stobart Aviation from their respective acquisition dates.
We reported in the AGM statement in June 2016 an expectation to pay a quarterly dividend commencing in October 2016. Dividends of 3.0p per share were paid on 7 October 2016 and 20 January 2017 and the Board has now declared a further interim dividend of 3.0p per share which will be paid on 7 April to shareholders on the register as at 17 March 2017. Subject to Board approval, a further quarterly dividend payment will be made on 7 July 2017.
Andrew Tinkler, CEO of Stobart commented "The focus of the last twelve months has been to continue our progress towards the clear targets for each of our growth divisions; Energy, Aviation and Rail whilst realising value for shareholders from our Infrastructure and Investments divisions. I am pleased with the progress we have made across all parts of the Group this year and remain confident of delivering growth and good returns for shareholders over the coming years."
Enquiries:
Stobart Group Limited +44 20 7851 9090
Andrew Tinkler, Chief Executive Officer
Mark Adams, Chief Financial Officer
Redleaf Communications +44 20 7382 4730
Charlie Geller
Sam Modlin
influence Associates +44 20 7287 9610
Stuart Dyble
James Andrew