Steel & Tube resumes dividends

Fri, 26 Feb 2021

Steel & Tube Holdings beat its own half-year guidance significantly and said its "cautiously optimistic view" of the future supports the resumption of dividends.The company reported a $4.3 million net profit for the six months ended December compared with a $37m net loss in the same six months a year earlier.Earnings before interest and tax were $8.9m compared with its December forecast of $6.5m-to-$7.5m. The actual result was boosted by a $1.3m one-off gain from reversing a previous impairment and from the sale of its remaining p...

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