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Rotork to pay dividend despite oil and gas downturn

The flow control systems specialist generates most of its orders from customers' operational expenditure, as opposed to capital projects
Rotork to pay dividend despite oil and gas downturn

A collapse in global economic activity and hydrocarbon price volatility drove Rotork’s (RTK) order intake down over its half year by almost a fifth. The manufacturer of flow control systems did announce, however, that it would pay out its 2019 final dividend of 3.9p in September, having withdrawn the payout in March during the early stages of the coronavirus pandemic. May and June saw a return to revenue growth for the company.

IC TIP: Buy at 303p

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