Synthomer hikes divi as profits edge higher

Synthomer, the FTSE 250 chemicals company formerly known as Yule Catto, hiked its dividend by over a half in 2012 despite a slump in sales, as the company was able to register another year of record profits.

Synthomer, the FTSE 250 chemicals company formerly known as Yule Catto, hiked its dividend by over a half in 2012 despite a slump in sales, as the company was able to register another year of record profits.

A final dividend of 3.3p per share brings the total dividend to 5.5p, a 57% increase on the year before. Synthomer said it "reflects the board's previously stated commitment to a progressive dividend policy and to move the dividend cover to three times by 2015".

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.