Photo / suppliedSteel & Tube's revenue dropped because of Covid but the company turned last year's interim loss into a profit and has decided to resume paying shareholders a dividend. "Given the turnaround in performance and the improved economic outlook, the board has been pleased to resume dividend payments with an interim dividend of 1.2cps in line with Steel & Tube's dividend policy of 60 per cent to 80 per cent of net profit after tax," it said. As long as Covid had no further impact, a final dividend is expected in line with policy, the company said. Steel & Tube's result is out. The business sells reinforcing steel, purlins, roofing, rural products, flooring and piping systems, fastenings, chain and rigging equipment and stainless steel equipment.

Source: New Zealand Herald February 25, 2021 20:38 UTC