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ContourGlobal annual profit rises; hikes dividend 10%

Fri, 19th Mar 2021

Power generating assets investor ContourGlobal hiked its dividend after reporting a rise in profit as its acquisition of Mexican CHP assets bolstered revenue. For the year ended 31 December 2020, pre-tax profit increased by $12.9 million to $72.3 million year-on-year as revenue Cash conversion rate was improved to 53% from 48% in 2019 and funds from operations were up 12% to $380 million. The company hiked its dividend by 10%, in line with its dividend growth policy. Looking ahead, the company expects 2021 adjusted earnings before interest, taxes, depreciation and amortisation, or EBITDA, to be between $770 to $800 million. At 8:03am: (LON:GLO) Contourglobal PLC share price was 0p at 197p Story provided by StockMarketWire.com

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