Severfield confirm shareholder dividend and announce return to work for staff

Shareholders in Thirsk construction giant Severfield are set for a final divident payout as the firm confirmed it returned virtually all of its staff to work.
By Mark Casci
Published 30th Jul 2020, 16:36 BST
Work on No 1 Court was facilitated by SeverfieldWork on No 1 Court was facilitated by Severfield
Work on No 1 Court was facilitated by Severfield

Ahead of its Annual General Meeting, Severfield told investors that it was looking at a strong balance sheet and cash position and that as such the the board is recommending a final dividend for the year ended March 31 of 1.8p per share, making a total for the year of 2.9p per share.

A spokesperson added: “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.”

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Severfield remains Britain’s biggest steel contractor. Last month it reported a 16 per cent rise in underlying pre-tax profit to £28.6m.

Severfield has worked on the new stadium for Tottenham Hotspur FC and the retractable roof for Wimbledon No.1 Court.

Related topics:ThirskBritain