Smith and Nephew ramps up divi

Medical devices specialist Smith & Nephew has whacked up its dividend as it embarks on a progressive dividend policy on the back of the success of its recent restructuring.

Medical devices specialist Smith & Nephew has whacked up its dividend as it embarks on a progressive dividend policy on the back of the success of its recent restructuring.

The group, which has been restructured to report along two divisional lines, Advanced Surgical Devices (ASD) and Advanced Wound Management (AWM), reported a slight decline in trading profit in the second quarter to $234m from $236m the year before, due to unhelpful exchange rate movements; with these stripped out, trading profit would have been up 6%. The trading profit margin in the second quarter improved by eight-tenths of a percentage point to 22.7%.

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