Clarksons is increasing its dividend for the 17th consecutive year in line with its progressive dividend policy. The Board is recommending a final dividend of 53p (2018: 51p). Combined with the interim dividend of 25p (2018: 24p), the resulting full year dividend is up 4% to 78p (2018: 75p). The dividend will be payable on 29 May 2020 to shareholders on the register at 15 May 2020, subject to shareholder approval.
Other financial highlights include:
Results in line with market expectations
Strong performance in broking more than offset weakness in financial services
One-off, non-cash impairment charge of £47.5m in relation to acquisition of RS Platou in 2015
Continued strong free cash flow generation
Robust balance sheet with free cash resources of £68.7m (31 December 2018: £57.0m)
Improved forward order book from 2019, although COVID-19 virus likely to impact first half performance
Medium term macro environment for shipping favourable as demand / supply dynamics improve
