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Prices & Quotes - UK Markets - Contour Global (GLO)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 200.00p
Change Today:
3.40p
Market Cap:
1,311.54m
Sector:
Electricity

ContourGlobal increases dividend as profit rises

By Sean Farrell

Date: Monday 10 Aug 2020

LONDON (ShareCast) - (Sharecast News) - ContourGlobal increased its dividend as the power plant owner and operator reported an 11% increase in first-half profit and no significant effect from Covid-19.
Income from operations for the six months to the end of June rose to $158m (121m) from $143m as revenue increased 10% to $680m. The company increased its second quarter dividend by 10% to 4.0591 cents a share and said it intended to maintain that level of increase.

Profit growth was driven by the acquisition of assets in Mexico in November 2019 which more than offset a negative foreign exchange swing of $30m. ContourGlobal said it suffered no meaningful disruption from the Covid-19 crisis and expected none in 2020.

The FTSE 250 company said it had bought back 8m of its own shares since the start of April and that it would purchase more shares because its shares are undervalued.

Chief Executive Joseph Brandt said: "Our financial performance has been robust and continues to meet our growth expectations. The business model is underpinned by consistent and contracted cash generation. The stability of the cash flow ensures that we can deliver our long-term commitment to shareholders, including a targeted annual 10% increase in our dividend and our recent share buyback programme."

Profit before tax rose to $101.6m from $23.2m boosted by a change to the fair value of derivatives.

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

 

Contour Global Market Data

Currency UK Pounds
Price 200.00p
Change Today 3.40p
52 Week High 219.00p
52 Week Low 154.20p
Volume 248,184
Shares Issued 655.77m
Market Cap 1,311.54m
Beta 0.00

Performance Indicators

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What The Brokers Say

Strong Buy 2
Buy 0
Neutral 3
Sell 0
Strong Sell 0
Total 5
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Contour Global Dividends

  Latest Previous
  Q4 Q3
Ex-Div 01-Apr-21 03-Dec-20
Paid 19-Apr-21 29-Dec-20
Amount 4.06¢ 4.06¢

Trades for 07-May-2021

Time Volume / Share Price
16:35 79,079 @ 200.00p
16:29 121 @ 199.60p
16:29 71 @ 199.60p
16:29 127 @ 199.60p
16:29 379 @ 199.60p

Contour Global Key Personnel

Chair Craig Huff
CFO Stefan Schellinger