Kingfisher, Dignity and Travis Perkins

Here are three things you need to know about the financial markets this morning from investment writer Tony Cross.

# 1. Kingfisher increases second half sales forecast

Kingfisher [LON:KGF], owners of B&Q and Screwfix, this morning released interim results for the six-month period ended July 31. Sales are up nearly 20% while operating profits are up over 50%. This means that shareholders will be rewarded with an increase of almost 40% in the interim dividend. The company notes that e-commerce has performed exceptionally well and is benefiting from a new generation of tinkerers, likely a consequence of pandemic lockdowns. Sales forecasts for the second half of the year have been revised upwards.

# 2. Dignity dividend remains suspended

Funeral service provider Dignity [LON:DTY] today published its intermediaries for the 26 weeks until June 25. The tone of the note appears to be weighed down with death rates falling and a discussion of regulatory changes in the evidence as well. The dividend remains suspended until the capital structure of the company is strengthened.

# 3. Travis Perkins announces special dividend and share buyback

A word from Travis Perkins [LON:TPK] who completed the sales process for its plumbing and heating division, a sale in progress since May. Shareholders are in line for a windfall with a special 35p per share dividend and a £ 100million share buyback program, together representing around half of the £ 325million made with the sale.


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