Promising ring for future dividend payments at Bell
INVESTORS in Bell Equipment can look forward to continued dividend payments and may even be rewarded more handsomely in future. The global manufacturer of heavy equipment for the mining and construction sectors on Thursday lifted its eight-year suspension on dividends, citing improved cash flows that had increased profits. Bell declared an interim dividend of 15c, its financial report for the six months to June, released on Thursday, showed. CEO Gary Bell said cash flows had been positively affected by the reduction in inventory across its global operations during the period, as well as right-sizing and cost-cutting. Bell generated a healthy cash flow of R150.96m in the interim period. With major capital expenditure out of the way — namely the upgrade of its E-Series Dump Trucks — Bell said there would not be too much demand on cash in the medium term, freeing up resources for the continuation of shareholder rewards. "It is our intention to continue payment of dividends and grow the...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.