Last checked at 20 Oct 2020 07:00
20 October 2020
Dividend payments reinstated
Vesuvius plc ("Vesuvius", the "Group"), a global leader in molten metal flow engineering and technology, announces the reinstatement of dividend payments.
The Board has declared an interim dividend for 2020 of 3.1 pence per share (2019: 6.2 pence per share), to be paid on 4 December 2020 to shareholders on the register at the close of business on 30 October 2020. Any shareholder wishing to participate in the Vesuvius Dividend Reinvestment Plan needs to have submitted their election to do so by 13 November 2020.
The Board recognises the importance of dividend payments to shareholders and has determined that this level of dividend is affordable at the current level of business activity and that the Company has sufficient liquidity and overall balance sheet strength to justify payment, whilst also maintaining flexibility to fund both organic and inorganic growth, as opportunities arise.
We expect to issue a trading update on 12 November 2020, which will provide detail on trading conditions up until the end of October, as well as guidance regarding our expected full year performance for 2020.
This announcement contains inside information. The person responsible for the release of this announcement on behalf of Vesuvius plc is Guy Young, Chief Financial Officer.
For further information, please contact: | ||
Shareholder/analyst enquiries: | ||
Vesuvius plc | Patrick André, Chief ExecutiveGuy Young, Chief Financial Officer Euan Drysdale, Group Head of Corporate Finance Pamela Antay, Head of Investor Relations
| +44 (0) 20 7822 0000+44 (0) 20 7822 0000 +44 (0) 7584 641315 +44 (0) 7827 802277 |
Media enquiries: | ||
MHP Communications | Andrew Jaques/ Ollie Hoare/ Peter Lambie | +44 (0) 203 128 8100 |
About Vesuvius plc
Vesuvius is a global leader in molten metal flow engineering and technology, serving process industries operating in challenging high-temperature conditions.
We develop innovative and customised solutions, often used in extremely demanding industrial environments, which enable our customers to improve their manufacturing processes, enhance product quality and reduce energy consumption. These include flow control solutions, advanced refractories and other consumable products and - increasingly - related technical services including data capture.
We have a worldwide presence. We serve our customers through a network of low-cost manufacturing plants located close to their own facilities, and embed our industry experts within their operations, who are all supported by our global technology centres.
Our core competitive strengths are our market and technology leadership, strong customer relationships, well established presence in developing markets and our global reach, all of which facilitate the expansion of our addressable markets.
Our ultimate goal is to create value for our customers, and to deliver sustainable, profitable growth for our shareholders giving a superior return on their investment whilst providing each of our employees with a safe workplace where he or she is recognised, developed and properly rewarded.
Forward looking statements
This announcement contains certain forward-looking statements which may include reference to one or more of the following: the Group's financial condition, results of operations, cash flows, dividends, financing plans, business strategies, operating efficiencies or synergies, budgets, capital and other expenditures, competitive positions, growth opportunities for existing products, plans and objectives of management and other matters.
Statements in this announcement that are not historical facts are hereby identified as "forward-looking statements". Such forward looking statements, including, without limitation, those relating to the future business prospects, revenue, working capital, liquidity, capital needs, interest costs and income, in each case relating to Vesuvius, wherever they occur in this announcement, are necessarily based on assumptions reflecting the views of Vesuvius and involve a number of known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed or implied by the forward looking statements. Such forward looking statements should, therefore, be considered in light of various important factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements. These include without limitation: economic and business cycles; the terms and conditions of Vesuvius' financing arrangements; foreign currency rate fluctuations; competition in Vesuvius' principal markets; acquisitions or disposals of businesses or assets; and trends in Vesuvius' principal industries.
The foregoing list of important factors is not exhaustive. When considering forward looking statements, careful consideration should be given to the foregoing factors and other uncertainties and events, as well as factors described in documents the Company files with the UK regulator from time to time including its annual reports and accounts.
You should not place undue reliance on such forward-looking statements which speak only as of the date on which they are made. Except as required by the Rules of the UK Listing Authority and the London Stock Exchange and applicable law, Vesuvius undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this announcement might not occur.
Vesuvius plc, 165 Fleet Street, London EC4A 2AE
Registered in England and Wales No. 8217766
LEI: 213800ORZ521W585SY02
www.vesuvius.com