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DS Smith says it will pay an interim dividend as trading has improved

"The underlying drivers of demand for corrugated packaging remain strong,” said Miles Roberts.

DS Smith PLC - DS Smith says it will pay an interim dividend as trading has improved

DS Smith PLC (LON:SMDS), in a statement ahead of today’s AGM, highlighted a return to positive volume growth in the month of August.

It followed a period of improving performance since the COVID-19 lockdown.

As a result of improvements in the past quarter the company now plans to pay an interim dividend, for the half-year ending October 31 2020.

The packaging company noted it fast-moving consumer goods (FMCG) and e-commerce related businesses have shown a consistently strong performance among multinational customers, and, it said this has more than offset continuing challenging conditions in other business categories.

Supply chains have remained robust, it added.

"The underlying drivers of demand for corrugated packaging remain strong,” said Miles Roberts, chief executive.

“While the macro-economic outlook remains challenging, we are pleased to see volume growth in August and the reduced OCC costs.

“Our customer focus, strong cost control, cash generation, and liquidity profile, together with continued performance in line with our expectations, gives us confidence for the future."

Quick facts: DS Smith PLC

Price: 327 GBX

LSE:SMDS
Market: LSE
Market Cap: £4.49 billion
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