Rolls-Royce Holdings (RR.)

Sector:

Defense and Aeronautics

Index:

FTSE 100

280.60p
   
  • Change Today:
    -2.70p
  • 52 Week High: 923.80
  • 52 Week Low: 247.00
  • Currency: UK Pounds
  • Shares Issued: 1,931.00m
  • Volume: 9,374,781
  • Market Cap: £5,418m
  • RiskGrade: 450

Airbus pulls dividend, secures fresh credit to shore up cash reserves

By Abigail Townsend

Date: Monday 23 Mar 2020

LONDON (ShareCast) - (Sharecast News) - Airbus has pulled its dividend and secured a €15bn credit facility as it looks to bolster cash reserves during the coronavirus crisis.

As well as the new credit facility - which is additional to its existing €3.0bn revolving credit facility - other steps announced on Monday included suspending the voluntary top up in pension funding. The European aerospace giant said the proposed dividend of €1.80 per share for 2019 had an overall cash value of around €1.4bn, and that following the steps announced, available liquidity now amounted to around €30bn.

The company has also withdrawn its guidance for 2020, because of the current volatility.

Guillaume Faury, chief executive, said: "Our first priority is protecting people while supporting efforts globally to curb the spread of the coronavirus. We are also safeguarding our business, to protect the future of Airbus and to ensure we can return to efficient operations once the situation recovers.

"We are committed to securing the liquidity of the company at all times through a prudent balance sheet policy; I am convinced that Airbus and the broader aerospace sector will overcome this critical sector."

The aviation industry has been one of the hardest hit by the pandemic, as flights are grounded, factories are shut and spending dries up. On Sunday, Airbus said it would resume only partial aircraft production when its French and Spanish factories reopen after a period of enforced closure, and last week US rival Boeing also scrapped its 2019 dividend as it called on Washington to provide financial support for the industry.

Airbus said: "By maintaining production, manging its resilient backlog, supporting its customers and securing financial flexibility for its operations, Airbus intends to secure business continuity for itself even in a protracted crisis." The company added that it "highly welcomes government efforts around the globe to stabilise this industry, by supporting the financial health of its airline customers and its suppliers".

The jet maker's annual general meeting will go ahead in Amsterdam on 16 April as planned. But the company urged shareholders to stay away and vote by proxy instead.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Rolls Royce Market Data

Currency UK Pounds
Share Price 280.60p
Change Today -2.70p
% Change -0.95 %
52 Week High 923.80
52 Week Low 247.00
Volume 9,374,781
Shares Issued 1,931.00m
Market Cap £5,418m
RiskGrade 450

Rolls Royce Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
46.67% below the market average46.67% below the market average46.67% below the market average46.67% below the market average46.67% below the market average
69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average
Price Trend
86.26% below the market average86.26% below the market average86.26% below the market average86.26% below the market average86.26% below the market average
84.62% below the sector average84.62% below the sector average84.62% below the sector average84.62% below the sector average84.62% below the sector average
Income
68.97% below the market average68.97% below the market average68.97% below the market average68.97% below the market average68.97% below the market average
80% below the sector average80% below the sector average80% below the sector average80% below the sector average80% below the sector average
Growth
26.27% above the market average26.27% above the market average26.27% above the market average26.27% above the market average26.27% above the market average
7.69% above the sector average7.69% above the sector average7.69% above the sector average7.69% above the sector average7.69% above the sector average

What The Brokers Say

Strong Buy 6
Buy 0
Neutral 4
Sell 4
Strong Sell 4
Total 18
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Rolls Royce Dividends

  Latest Previous
  Interim Final
Ex-Div 24-Oct-19 25-Apr-19
Paid 03-Jan-20 01-Jul-19
Amount 4.60p 7.10p

Trades for 22-May-2020

Time Volume / Share Price
17:11 13,407 @ 280.51p
16:35 62,152 @ 280.60p
16:35 14,251 @ 280.60p
16:35 15,428 @ 280.60p
16:35 11,198 @ 280.60p

Rolls Royce Key Personnel

Chair Ian Davis
CEO Warren East
CFO Stephen Daintith

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