Last checked at 30 Jul 2020 07:00
30 July 2020
Severfield plc
('the Company' or 'the Group')
Declaration of final dividend, notice of Annual General Meeting and annual report for the year ended 31 March 2020
Annual General Meeting ('AGM')
Severfield plc, the market leading structural steel group, today announces that its AGM will be held on Thursday 3 September at 12pm.
In response to the COVID-19 pandemic, the UK government has issued guidance and restrictions on non-essential travel and public gatherings and social distancing. As a result of this, the 2020 AGM will be a closed meeting and shareholders will not be able to attend. Shareholders may ask questions in advance of the meeting by submitting an email to the Company (severfield@camarco.co.uk).
Final dividend
As a result of the Group's strong balance sheet and cash position, the board is recommending a final dividend for the year ended 31 March 2020 of 1.8p per share, making a total for the year of 2.9p per share (2019: 2.8p per share). If the dividend is approved at the AGM on 3 September 2020, it will be paid on 11 September 2020 to shareholders on the register at the close of business on 14 August 2020.
The Group's strong financial position also means that, whilst we furloughed some of our workforce in the first quarter of the 2021 financial year, almost all of whom have since returned to work, we will not be claiming for support under any employee-related government support packages including the Coronavirus Job Retention Scheme.
Annual report and AGM notice
The annual report and accounts for the year ended 31 March 2020, notice of Annual General Meeting and form of proxy will be posted, or made available, to shareholders on 3 August 2020. These documents will be made available on the Company's website and will be submitted to the National Storage Mechanism, where they will be available for inspection on the Financial Conduct Authority website (https://data.fca.org.uk/#/nsm/nationalstoragemechanism).
For further information, please contact:
Severfield Alan Dunsmore 01845 577 896
Chief Executive Officer
Adam Semple 01845 577 896
Group Finance Director
Mark Sanderson 01845 577 896
Company Secretary
Jefferies International Simon Hardy 020 7029 8000
Will Soutar 020 7029 8000
Camarco Ginny Pulbrook 020 3757 4980
Tom Huddart 020 3757 4980
Notes to editors:
Severfield is the UK's market leader in the design, fabrication and construction of structural steel, with a total capacity of c.150,000 tonnes of steel per annum. The Group has five sites, c.1,400 employees and expertise in large, complex projects across a broad range of sectors. The Group also has an established presence in the expanding Indian market through its joint venture partnership with JSW Steel (India's largest steel producer).