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Hilton Food Share Price Soars After Raising its Interim Dividend

Practice Stock Trading
Updated: 17 September 2020

Shares of Hilton Food Group PLC (LON: HFG) soared 4% after the company hiked its interim dividend by 17% to 7p per share. The firm’s CEO, Robert Watson, said he expects full-year results to come in line with expectations.

The FTSE-250 constituent saw its revenue soar 39% to £1.2 billion, with profit before tax up 21% to £24 million. The net debt also jumped by 26% to £131 million.

Hilton Food said it witnessed a strong performance once the lockdown restrictions were lifted. Moreover, a higher demand was recorded during the pandemic with people eating more at home.

“We view Hilton Food Group as a class act, with world-class facilities that underpin growth ambitions across multiple geographies, proteins (meat, fish and meat-free) and categories,” analysts at Shore Capital wrote.

Hilton stock price gained 4% after raising interim dividend September 2020

Hilton Food share price gained around 4% today to trade at the highest levels since the beginning of July.