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BAE Systems guides to slightly lower earnings, restarts dividend

LONDON, July 30 (Reuters) - British defence company BAE Systems warned its underlying earnings would be slightly lower in 2020 due to COVID-19 working practices, but said demand for its products was high and it would restart dividend payments.

The company posted a 15% drop in underlying earnings per share to 18.7 pence for the first six months of the year, and guided for the year as a whole that measure would be a mid-single digit percentage lower than last year’s 45.8 pence.

The dividend payment for the year ended December 2019 was deferred in April, but BAE Systems said on Thursday it would pay 13.8 pence per share in September, plus an interim dividend of 9.4 pence per share for the first-half. (Reporting by Sarah Young, Editing by Paul Sandle)

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