DS Smith (SMDS) Finals
Posted: June 18th, 2018, 9:05 am
Can be found here:
http://www.investegate.co.uk/article.as ... 6709R&fe=1
and
For me that will be a slight cut in cash dividend if I don't take up the rights, but I don't know if it is actually a cut in dividend as it will be paid to shares acquired in the rights issue and if I don't take up the rights (I am probably going to though) I will have a smaller stake in the company.
http://www.investegate.co.uk/article.as ... 6709R&fe=1
Highlights
· Strong organic box volume growth of +5.2%
o Growth in all regions
· Continued delivery in line with medium-term targets
o Strong margin performance despite significant input cost headwinds
o Sustainable financial returns
· Continued leadership in e-commerce packaging
· Excellent performance by North American business
o Delivering well ahead of initial expectations
o Returns greater than WACC in initial period of ownership
· Further accretive bolt-ons in Europe and US
o EcoPack and EcoPaper (Romania) in March 2018
o Corrugated Container Corporation (US) in May 2018
· Proposed acquisition of Europac
o Highly compelling strategic rationale and financial returns
· Strategic review of Plastics division underway
· Good momentum into 2018/19
and
Dividend
The proposed final dividend is 9.8 pence (2016/17: 10.6 pence), will be paid on 1 November 2018 to ordinary shareholders on the register at close of business on 5 October 2018, including those shares to be issued in the rights issue.
For me that will be a slight cut in cash dividend if I don't take up the rights, but I don't know if it is actually a cut in dividend as it will be paid to shares acquired in the rights issue and if I don't take up the rights (I am probably going to though) I will have a smaller stake in the company.