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Victrex shelves special dividend on cash dip

The polymers specialist was hampered by a slowdown in automotive and electronics
December 6, 2019

Victrex (VCT) has elected not to award shareholders an extra payout following two years of special dividends after the polymer specialist’s net cash position failed to surpass its £85m target threshold. The group’s stock build in anticipation of Brexit, and a £15m two-year investment in ‘debottlenecking’ with the aim of boosting capacity, pushed the group’s operating cash conversion down to 87 per cent from a prior year level of 107 per cent. 

IC TIP: Hold at 2,328p
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