Wynnstay Group Plc Corrects Record Date for Final Dividend
Why we think this is neutral
This appears to be a routine regulatory announcement with no material impact on Wynnstay's business performance or outlook. The correction of the record date for the final dividend payment is a minor administrative issue, and the company's proposed dividend increase suggests continued financial strength.
Key Points
- Correction of record date for final dividend payment
- Proposed final dividend of 11.90p per share, up 1.4% year-on-year
- Dividend supported by 'strong cash generation'
Summary
Wynnstay Group Plc, an agricultural supplies and services group, has issued a correction to the record date for its final dividend payment. The company is proposing a final dividend of 11.90p per share, which represents a 1.4% year-on-year increase. The dividend payment is supported by the company's 'strong cash generation'. Brokers Canaccord Genuity and Shore Capital have maintained their 'Buy' and 'House Stock' recommendations on the company, with Canaccord Genuity reiterating a price target of 470p.