Diploma's full year results confirmed they'll pay a 30p dividend in late January 2021. This final dividend represents the entire year's dividend for 2020 and reflects a 3.4 percent increase on the 29p paid in 2019 - above inflation, even if it is the slowest rate of dividend growth since 2009.
This has been a longstanding holding for me and a pleasing one, showing a total return (simply adding up the dividends per share and the capital gain per share) of over 450 percent since November 2012.
I was interested in their comments about the Windy City Wire acquisition and forecasts for turnover, earnings, dividends and cashflows are being nudged upwards. The balance sheet is strong and the dividend is forecast to reach 39p a share by 2023 on the basis of annual dividend increases returning to the high single and low double digits we've seen over recent years. Leaving aside future projections/guesses, it has a 2.7 percent free cash flow yield as of today and a resilient record.
Victrex's results are due in December 2020 and we'll see whether it pays a dividend for this year. I'm guessing it'll pay a final, perhaps as Diploma did to account for the entire year. Other than that, as I indicated before, my only 'cutters' look to be Standard Chartered and Renishaw, which both eliminated their dividends entirely. My dividend stream has held up pretty well.