Fluidra continues its positive trend and announces a dividend distribution of 0.21 euros per shareSeptember 8, 2020
The Company’s Board of Directors has approved the distribution of an interim cash dividend which amounts to about 41 million euros.
The decision was taken following continued favorable trading and a solid outlook for 2020.
The payment will be made on October 27.
Fluidra, a global leader in the pool and wellness equipment sector, continues its strong year and has announced an interim cash dividend distribution from its 2020 financial year earnings in the gross amount of 0.21 euros per share. The payment, which stands to almost 41 million euros, will be made on October 27.
The return to dividend distribution was in the company’s plans following strong cash generation and deleverage during 2019. However, due to the coronavirus outbreak, Fluidra decided to put it on hold in Q1 as part of the measures introduced with the aim of ensuring the company’s continued strength.
Now, given the maintained favorable trading environment and a solid outlook for the rest of the year, Fluidra’s Board of Directors has made the decision, during its meeting held today, to resume the dividend distribution.
“Since the beginning of the crisis we have been monitoring the situation, prioritizing the safety of our employees and business partners. We have shown a strong capacity to react in difficult times and proved the resilience of our business with an outstanding performance”, said Fluidra’s Executive Chairman, Eloi Planes. “The return to the dividend distribution is another step forward for the company and its promising future.”
Continued growth despite hard times
Fluidra has had a very positive year despite the pandemic, with accelerating organic growth as well as completing several acquisitions to further strengthen its position as a global leader.
The company closed the first half of the year with double-digit growth in sales for the months of May and June, boosted by the underlying demand that re-emerged once lockdown measures began to be lifted. The global leader in the pool and wellness equipment business ended the first six months of the year with EBITDA up 10% to 169.4 million euros and a 2.4% rise in sales to 771.3 million euros. This trend continued into Q3 with July’s sales figures showing double-digit growth.