Petrofac results
Posted: February 28th, 2019, 8:24 am
can be found here:
www.investegate.co.uk/article.aspx?id=2 ... 3947R&fe=1
Highlights
· Solid operational performance in all our businesses
· Business performance net profit (1)(2) down 2% to US$353 million
· Reported net profit (2) of US$64 million post impairments and exceptional items
· New order intake (3) of US$5.0 billion; backlog (4) of US$9.6 billion at 31 December 2018
· Net debt eliminated; net cash of US$90 million
· Full year dividend of 38.0 cents per share
The important bit:
www.investegate.co.uk/article.aspx?id=2 ... 3947R&fe=1
Highlights
· Solid operational performance in all our businesses
· Business performance net profit (1)(2) down 2% to US$353 million
· Reported net profit (2) of US$64 million post impairments and exceptional items
· New order intake (3) of US$5.0 billion; backlog (4) of US$9.6 billion at 31 December 2018
· Net debt eliminated; net cash of US$90 million
· Full year dividend of 38.0 cents per share
The important bit:
DIVIDEND
The Group's dividend policy targets a dividend cover of between 2.0x and 3.0x business performance net profit. In line with this policy, the Board is proposing a final dividend of 25.3 cents per share (2017: 25.3 cents). The final dividend will be paid on 24 May 2019 to eligible shareholders on the register at 26 April 2019 (the 'record date'). Shareholders who have not elected to receive dividends in US dollars will receive a sterling equivalent. Shareholders can elect by close of business on the record date to change their dividend currency election. Together with the interim dividend of 12.7 cents per share (2017: 12.7 cents), this gives a total dividend for the year of 38.0 cents per share (2017: 38.0 cents). Dividends paid in 2018 were covered by free cash flow.