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Prices & Quotes - UK Markets - Mondi (MNDI)

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Share Price:
1,584.00p
Change Today:
0.000p
Market Cap:
7,691m
Sector:
Forestry & Paper

Mondi restarts dividends after 'robust' trading

By Sean Farrell

Date: Thursday 06 Aug 2020

LONDON (ShareCast) - (Sharecast News) - Mondi restarted paying dividends as the paper and packaging company reported a 26% decline in first-half profit after the Covid-19 crisis reduced demand for its products.
Pretax profit for the six months to the end of June fell to €466m (420m) from €632m a year earlier as revenue dropped to €3.45bn from €3.77bn. Underlying operating profit fell 23% to €524m.

The FTSE 100 group cancelled its final dividend for 2019 in April to conserve cash as the Covid-19 crisis escalated. On Thursday the company declared a dividend of 29.75 euro cents a share for 2019 taking the annual payout to 57.03 cents a share. It also proposed an interim dividend of 19 cents a share, down from 27.28 cents a year earlier.

Chief Executive Andrew King said: "Having delivered a robust trading performance in the first half of the year and given our resilient business model and strong financial position, the board has revisited the decision taken in April to suspend the final 2019 dividend and is pleased to resume the payment of dividends."

Mondi shares rose 4.2% to 14.85p at 08:18 BST.

Average selling prices fell for paper in the first half, more than offsetting good volume growth for corrugated and flexible packaging. Uncoated fine paper volumes were hit by reduced demand as offices and commercial premises shut down during the crisis.

King said the outlook was uncertain for the second half with pricing for pulp and paper below or in line with the first-half average. Demand for packaging staple items is solid but trading is weak with some industrial customers. Orders for uncoated fine paper have picked up from April's lows but will stay below pre-crisis levels in the near term, he said.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Mondi Market Data

Currency UK Pounds
Price 1,584.00p
Change Today 0.000p
52 Week High 1,785.00p
52 Week Low 1,183.00p
Volume 0
Shares Issued 485.55m
Market Cap 7,691m

Performance Indicators

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What The Brokers Say

Strong Buy 7
Buy 0
Neutral 4
Sell 0
Strong Sell 0
Total 11
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Mondi Dividends

  Latest Previous
  2nd Interim 1st Interim
Ex-Div 20-Aug-20 20-Aug-20
Paid 29-Sep-20 29-Sep-20
Amount 19.00¢ 29.75¢

Trades

No recent trades found

Mondi Key Personnel

CEO Andrew King
Chair Philip Yea