Yule Catto Rises as Profit and Dividend Pledge Buoys Sentiment
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Yule Catto & Co., the world’s largest producer of nitrile latex, climbed the most in two months in London trading after profit beat estimates and management pledged to pay a bigger-than-estimated dividend.
Yule Catto’s stock increased as much as 7.3 percent, the most since June 29. First-half pretax profit of 56 million pounds ($88 million) beat the average 53.9 million-pound estimate from a survey of three analysts by Bloomberg. Shareholders will receive a 2.2 pence payout versus a Bloomberg estimate of 1.5 pence.