RHI Magnesita reinstates dividend as recovery continues

Thu, 22nd Oct 2020

RHI Magnesita has reinstated its dividend on the back of cost savings and improvements in activity in several markets. The board planned to pay an interim dividend of €0.50 per share, it said this morning in a trading update. Third-quarter trading was similar to the second quarter, it said, reflecting "continued stability" in markets. The company's order book improved "steadily but still slowly". North and South America showed signs of recovery in the steel market, RHI Magnesita said, but its industrial division was still impacted by customers delaying orders. The company said it expected to see modest seasonal improvements in the fourth quarter. At 8:56am: (LON:RHIM) Rhi Magnesita N.V. share price was +40p at 2854p Story provided by StockMarketWire.com

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