Associated British Foods still recovering from lockdown slump

Associated British Foods (ABF) resumed dividend payouts this year after 2020’s blank. The food processing and retail group announced an unexpected special dividend of 13.8p a share along with a final dividend, following July’s half-year payment. This was despite revenue-driving subsidiary Primark losing a third of its trading days due to store closures and the group posting flat revenue in its 2021 full-year results. Management said that strong financial leverage and improved cash retention drove the distribution decision.