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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
XP Power Ltd | AQSE:XPP.GB | Aquis Stock Exchange | Ordinary Share | SG9999003735 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
20.00 | 1.33% | 1,525.00 | 1,450.00 | 1,600.00 | 1,525.00 | 1,479.10 | 1,505.00 | 1,050 | 13:19:02 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMXPP 6 October 2023 XP Power Limited (`XP Power' or the `Group' or the `Company') Dividend Cancellation Further to the trading update announced on 2 October 2023, and having taken account of the views expressed by the Company's major shareholders, the Board has decided to cancel the second quarter dividend of 19.0 pence per share (approximately £3.75 million of cash spend) that was due to be paid to eligible shareholders on 12 October 2023. The Group continues to take all necessary internal actions to manage its cost base and cash resources, in order to strengthen the balance sheet in the near term. As previously announced, the Board intends that no further dividends will be paid in respect of the 2023 financial year. The Group recognises the importance of dividends to shareholders and will recommence paying dividends as soon as appropriate. Jamie Pike, Chair of XP Power, commented: "Notwithstanding these short-term challenges, the Board believes XP has a positive longer term outlook and we are fully focused on ensuring that the Group realises its potential." Enquiries: XP Power Gavin Griggs, Chief Executive Officer +44 (0)118 984 5515 Matt Webb, Chief Financial Officer +44 (0)118 984 5515 Citigate Dewe Rogerson Kevin Smith/Lucy Gibbs +44 (0)207 638 9571 Note to editors XP Power designs and manufactures power controllers, the essential hardware component in every piece of electrical equipment that converts power from the electricity grid into the right form for equipment to function. Power controllers are critical for optimal delivery in challenging environments but are a small part of the overall customer product cost. XP Power typically designs power control solutions into the end products of major blue-chip OEMs, with a focus on the Industrial Technology (circa 41% of sales), Healthcare (circa 20% sales) and Semiconductor Manufacturing Equipment (circa 39% of sales) sectors. Once designed into a programme, XP Power has a revenue annuity over the life cycle of the customer's product which is typically five to seven years depending on the industry sector. XP Power has invested in research and development and its own manufacturing facilities in China, North America, and Vietnam, to develop a range of tailored products based on its own intellectual property that provide its customers with significantly improved functionality and efficiency. Headquartered in Singapore and listed on the Main Market of the London Stock Exchange since 2000, XP Power is a constituent of the FTSE All Share Index. XP Power serves a global blue-chip customer base from over 30 locations in Europe, North America, and Asia. For further information, please visit www.xppowerplc.com This information was brought to you by Cision http://news.cision.com END
(END) Dow Jones Newswires
October 06, 2023 02:00 ET (06:00 GMT)
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