Ceva Logistics pulls out of race with GXO to acquire Wincanton
Ceva Logistics has formally given up on its plan to acquire the UK’s Wincanton. The CMA ...
The preliminary annual results from Wincanton were little short of inspirational for shareholders, with the cherry on the cake: the reinstatement of a dividend.
It’s the first for five years. Wincanton has proposed to pay out £6.7m, which is well covered by net earnings and implies a rich 2.9% forward yield based on the current price of 190p a share.
Wincanton is an asset-light business looking to attract yield-starved, buy-side fund managers at a time when the shares of several logistics companies offer decent yields ...
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