Key Developments: Babcock International Group PLC (BAB.L)
7 Mar 2014
Latest Key Developments (Source: Significant Developments)
Babcock International Group PLC announced that it has acquired LGE Process (LGE) from The Weir Group PLC for an enterprise value of GBP23 million. LGE, based in Edinburgh, designs and builds plants for the processing, storage and handling of liquid gases and is in the supply of these solutions to the marine and onshore liquid gas sectors. LGE will be combined with Babcock's Design Services (DS) business unit, within the Marine and Technology division. Full Article
Babcock International Group PLC announced that the interim dividend of 6.30 pence per share (2011: 5.70 pence per share), an increase of 10.5% over last year. This will be paid on January 11 , 2013 to shareholders on the register at December 14 , 2012. Full Article
Reuters reported that Man Group Plc will be demoted from Britain's FTSE 100. FTSE following the index's latest quarterly review, with Babcock International moving the other way from the midcaps, index provider FTSE said. Shares in defence services firm Babcock have gained nearly 15% over the same period, boosted by expectations that government austerity policies will benefit the Company, which owns the Devonport dockyard where British navy submarines are maintained. Man Group shares were in 156th place, while Babcock was placed 83rd, based on market capitalisation data for Friday's close, according to Thomson Reuters Starmine data. This quarter's review used the closing prices from Friday, rather than the usual Tuesday closing prices because of this week's two UK bank holidays, but the changes had to be confirmed by a FTSE committee on Wednesday Full Article
Babcock International Group PLC announced that the Board has recommended a final dividend of GBP0.17 per share. This will give a total dividend for the year of GBP0.227 per share, an increase of 17% (2011: total dividend GBP0.194 per share). The dividend will be paid on August 7, 2012 to shareholders on the register at close of business on July 6, 2012. Full Article
LONDON, Feb 17 - Workers at Britain's main nuclear submarine base at Faslane in Scotland have suspended a threatened strike this month after employers Babcock agreed to hold more talks with a view to making an improved pay offer, the Unite union said on Monday.