Dividend payment sees Kingspan’s shares surge 9%

SHARES in Kingspan surged by an initial 9% yesterday, following the Co Cavan-based building materials company announcing a resumption of dividend payments to shareholders and a better-than-expected set of first-half financial results.

The company has recommended a 4c per share interim dividend payment to its shareholders; the first time it has paid a dividend for two years.

On the back of this – and a positive set of first half results – the company’s share price grew by 9% in early trading, before retreating a little, but still managed to close the day up by over 5.3% – or nearly 30c – at €5.37.