19 Mar 2020 12:00
Kingspan Group plc
Dividend update
19 March 2020
Kingspan Group plc, the global leader in high performance insulation and building envelope solutions, provides the following update.
Since Kingspan's preliminary results announcement on 21 February 2020 the global trading environment has significantly changed due to the unprecedented challenges presented by COVID 19.
In light of this, we have today decided to withdraw the proposal at the Company's forthcoming AGM for a final dividend of 33.5c per share, in respect of the financial year to 31 December 2019. The Group has in excess of €1 billion in aggregate of cash balances on hand and committed undrawn bank facilities and maintains its strong balance sheet.
We are in a rapidly evolving trading environment and Kingspan will issue its next trading update on 30 April 2020 in advance of the AGM.
Lorcan Dowd
Group Company Secretary
KGP.L (KGP)