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ContourGlobal maintains 10% dividend growth commitment as profit jumps

By BFN News | 07:48 AM | Monday 10 August, 2020


Electricity generating plants owner and operator ContourGlobal maintained its commitment to grow its annual dividend by 10% after reporting a higher first-half profit. For the six months ended 30 June 2020, pre-tax profit rose to $101.6m from $23.2m as revenue increased 10% to $680.2m. As the company was deemed an an essential business in each of the 18 countries where it generated electricity, all 107 of its power generating facilities had been operational and continued to experience no notable adverse impacts from the Covid-19 crisis. The company declared a second quarter dividend of 4.0591 cents per share, equivalent to 3.1077 pence per share, reflecting the company's target of 10% year-on-year growth in dividend per share. ContourGlobal maintained guidance for 2020, forecasting adjusted earnings before interest, taxes, depreciated and amortization within a range of $710m to $745m. Story provided by StockMarketWire.com

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