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Smith (DS) Full year results

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idpickering
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Smith (DS) Full year results

#421318

Postby idpickering » June 22nd, 2021, 7:08 am

Financial highlights

· Accelerating corrugated box volume growth

· FY +3.5%, H2 +8.2%

· Further market share gains with FMCG customers in Europe and US

· Trading continues to build positively

· Profit adversely impacted by Covid-19, particularly in Q1

· Positive profit momentum: H2 adjusted operating profit £272m vs. H1 £230m

· Good progress with initial price recovery of input cost increases

· Strong recovery from US business - adjusted operating profit up 70%

· Excellent cashflow generation

· FCF(8) +37% driving net debt reduction to £1,795m 2.2x net debt/EBITDA (31 October 2020 2.4x)

· Statutory profit before tax for year £231m (-38%)

Strategic highlights

· Delivery through Covid-19

· All sites operational throughout the period

· High levels of service providing security of supply for customers

· Continued leadership in Circular Economy and sustainability

· CO2 emissions reduction of 23% since 2015

· Commitment to science-based carbon targets and net zero by 2050

· Well positioned for growth

· Structural trends of e-commerce and sustainability accelerated by Covid-19

· Fully fibre-based, innovative packaging for consumer goods

· Continuing investment in R&D, packaging capacity, innovation and digital platforms

· New financial year started well

And later;

Dividend

The Board considers the dividend to be a very important component of shareholder returns. In December 2020 we announced an interim dividend of 4.0 pence per share. Our policy is that dividends will be progressive and that, in the medium term, dividend cover should be on average of 2 to 2.5 times (relative to adjusted earnings per share), through the cycle. Accordingly, we are announcing a final dividend for this year of 8.1 pence, taking the total dividend for the year to 12.1 pence (2019/20: nil), in line with our policy.


https://www.investegate.co.uk/smith--ds ... 00066204C/

monabri
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Re: Smith (DS) Full year results

#421333

Postby monabri » June 22nd, 2021, 8:49 am

"Rebased" dividend of 12.1p for the year. 2019 divi being 16.2p (2020, zero).

daveh
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Re: Smith (DS) Full year results

#421341

Postby daveh » June 22nd, 2021, 9:50 am

and no where in their report do they say when it will be paid or give an ex or record date.

Which is a real pain. I'll try their website.

Final/Interim

Ex-Date Record Date Payment Date Dividend Amount (pence/share)
Final

7 Oct 2021 8 Oct 2021 1 November 2021 8.1p

absolutezero
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Re: Smith (DS) Full year results

#421349

Postby absolutezero » June 22nd, 2021, 10:28 am

monabri wrote:"Rebased" dividend of 12.1p for the year. 2019 divi being 16.2p (2020, zero).

Better than a poke in the eye.
Though 2.9% yield on its current price and 4 months to wait for the cash. Not convinced its a hold...
I'm now just waiting (still) for ITV to resume payments.

idpickering
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Re: Smith (DS) Full year results

#421353

Postby idpickering » June 22nd, 2021, 10:40 am

absolutezero wrote:
monabri wrote:"Rebased" dividend of 12.1p for the year. 2019 divi being 16.2p (2020, zero).

Better than a poke in the eye.
Though 2.9% yield on its current price and 4 months to wait for the cash. Not convinced its a hold...
I'm now just waiting (still) for ITV to resume payments.


None of the SMDS announcement is tempting me to bring them back on board my HYP tbh.

Ian.

tjh290633
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Re: Smith (DS) Full year results

#421357

Postby tjh290633 » June 22nd, 2021, 10:51 am

daveh wrote:and no where in their report do they say when it will be paid or give an ex or record date.

Which is a real pain. I'll try their website.

Final/Interim

Ex-Date Record Date Payment Date Dividend Amount (pence/share)
Final

7 Oct 2021 8 Oct 2021 1 November 2021 8.1p

That wasn't there when I looked, shortly after 9am.

TJH

daveh
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Re: Smith (DS) Full year results

#421359

Postby daveh » June 22nd, 2021, 10:59 am

tjh290633 wrote:
daveh wrote:and no where in their report do they say when it will be paid or give an ex or record date.

Which is a real pain. I'll try their website.

Final/Interim

Ex-Date Record Date Payment Date Dividend Amount (pence/share)
Final

7 Oct 2021 8 Oct 2021 1 November 2021 8.1p

That wasn't there when I looked, shortly after 9am.

TJH


When I went to the website it was still saying that the final report would be announced "tomorrow", but under the dividends section they had the pay ex and record dates up. I went and looked immediately after posting my post above and then came back and edited it with the details. So they must have updated the info just before 10am this morning.

Gengulphus
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Re: Smith (DS) Full year results

#421384

Postby Gengulphus » June 22nd, 2021, 12:35 pm

Having commented recently on DS Smith in the "My problem children" thread and basically wanting to update those comments in the light of these results, I've posted my updates in that thread, in viewtopic.php?p=421382#p421382.

Gengulphus


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