LONDON (dpa-AFX) - Stobart Group Plc. (STOB.L), an aviation, energy and civil engineering group, Wednesday said it continues to make strong commercial progress in its core Aviation and Energy operating divisions and is trading in line with management expectations.
In its pre-close trading statement, Stobart said in aviation segment, London Southend Airport saw a 33% increase in passenger numbers to 1.5 million.
In Energy segment, it delivered 1.3 million tonnes of renewable fuel, representing an increase of over 45% on the previous year. All but three of the power plants in the UK and Ireland that Stobart Energy supply to have completed the commissioning phase and are now in full contractual operations.
Further, Stobart Group said it continues to review its capital requirements. The objective is to ensure that the Company can accelerate and deliver its ambitious plans to fund future growth and shareholder returns from operating cashflow on a sustainable basis.
In light of the current assessment of its investment requirements and cash flow, the Board believes it would be more appropriate to move to a twice-yearly dividend made in equal payments of 3p per share. The first payment of 3p per share is expected to be paid in July 2019.
The announcement of the full year results will be on May 15.
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