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Barloworld dividend to bring smiles back to anxious shareholders
By Edward West
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CAPE TOWN - THE PRICE of Barloworldâs shares increased 3.15 percent yesterday afternoon after it resumed dividend payments and returned a special dividend of 200 cents per share to shareholders.
The international heavy equipment, automotive and food processing group declared an interim dividend of 137c per share, compared with no dividend declared in the first half of last year during the Covid-19 pandemic.
This was after a strong balance sheet was maintained in the six months to March 31, and the cash balance was robust at R8.3 billion.
Headline earnings per share leapt to 367c per share for the six months to March 31, compared with 70c in the first half last year.
New acquisitions boost Barloworld s half-year performance
24 May 2021, 20:12 GMT+10
Industrial brand management company Barloworld says its new starch and equipment businesses have helped to cushion it against the impact of Covid-19.
The company acquired its starch business Ingrain, from Tongaat Hulett in 2020 and Caterpillar dealer Equipment Mongolia, also in the same year. On Monday, the group released its interim results for the six months ended on 31 March 2021, which showed that Ingrain and Equipment Mongolia contributed 23% of its operating profit, increased by 44% to R1.94 billion from the same reporting period in 2020.
Barloworld s revenue from continuing operations increased from R17.9 billion in 2020, to R20.2 billion, while its group revenue grew to by 6.5% to R28.6 billion. Its headline earnings per share went up 424% to 367 cents from 70 cents in the six months ended on 31 March 2020.