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Summary
- Taylor Wimpey, Croda International and Intertek Group resumed dividend payouts after reporting their FY 2020 results on 2 March.
- Taylor Wimpey plans to disburse a total cash dividend payout of approximately £151 million.
- Croda International announced increased dividend payouts to GBX 91.0, while Intertek Group plans to maintain final dividend payout priced at GBX 71.6 per share.
Three FTSE 100 stocks – UK-based house building company Taylor Wimpey (LON: TW), chemicals company Croda International (LON: CRDA) and MNC company Intertek Group (LON:ITRK) resumed their dividend payouts after reporting their respective FY 2020 results on 2 March, despite lower profits due to the uncertainties around the pandemic.
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Taylor Wimpey
UK-based house building company Taylor Wimpey (LON: TW) reported its financial year results for the year ended 31 December 2020 on Tuesday, 2 March. The company resumed dividend payouts after its sales met with forecasted expectations for the fiscal amid headwinds caused by the coronavirus crisis.
The company reported revenues of £2.79 billion in FY 2020, lower by 36 per cent from the previous year. It also reported operating profits of £300.3 million, down by 65 per cent on a year-on-year basis from FY 2019. Furthermore, the company’s profit before tax fell by 69 per cent at £264.4 million from FY 2019.
Despite lower revenues, the company resumed its ordinary dividend payouts of approximately 7.5 per cent of its net assets. The total cash dividend payout is valued at approximately £151 million for the company’s proposed final dividend in FY 2020 subject to shareholder approval. The dividend per share is priced at GBX 4.14 and is expected to be disbursed on 14 May.
Want to know more? Do watch: Taylor Wimpey - Banking on The Underlying Fundamentals of The Housing Market
Croda International
FTSE 100 company Croda International PLC (LON: CRDA) also announced its FY 2020 results on Tuesday. The chemicals company’s pretax profit decreased by 10.9 per cent in FY 2020 to £269.5 million, while its operating profit fell by 9.3 per cent to £290.0 million for the fiscal due to higher M&A (mergers and acquisitions) costs and pandemic-related challenges.
Nevertheless, the company increased its paid dividend payouts to GBX 91.0 for FY 2020, accounting for 52 per cent of adjusted earnings per share. The dividend payouts rose by 1.1 per cent from GBX 90 from the year before.
Intertek Group
Intertek (LON:ITRK) maintained its dividend payouts for FY 2020 after its reported cash exceeded forecasts. The company posted a record adjusted free cash flow jumping by 10 per cent to £435.6 million on a y-o-y basis. Its pretax profits fell by 23 per cent to £343.9 million for the fiscal. It plans to disburse a 2020 final dividend priced at GBX 71.6 per share, the same as the previous year, on 26 May.
Stock Prices
Taylor Wimpey’s (LON: TW) stocks were trading at GBX 169.35, up by 1.68 per cent as of 2 March at 1:12 pm GMT+1. Meanwhile, Croda International’s (LON: CRDA) stock prices were trading at GBX 6,394.00, up by 1.43 per cent, and Intertek Group’s (LON:ITRK) shares rose by 0.95 to GBX 5,532.00 for the same period.
Comparatively the broader index FTSE 100 was trading at GBX 6,629.84, up by 0.63 per cent for the same period.
