Vulcan keeps dividend at top end of range

Integrating Ullrich Aluminium took more effort than expected. (Image: Vulcan Steel)

Tue, 29 Aug 2023

Vulcan Steel’s board announced a smaller cut to the dividend than some analysts were anticipating as it reported earnings in line with its very recent forecast. The steel and metal distributor warned of a weaker result in July, saying it spent twice as much on integrating Ullrich Aluminium than it had anticipated and that the tougher market was squeezing margins and sapping sales volumes. The board declared a final dividend of 30.5 cents per share, payable on Oct 12 with a record date of Sept 28, taking the annual return to 55 c...

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