Costain's FY25 update this morning signalled a key milestone with management intending to remove its dividend-pension contribution requirement, with details to be confirmed at its FY25 results on 10 March 2026. The Group is targeting a 3x dividend cover for FY26, aligning with peers and implying a c50% uplift to our current dividend forecasts. Additionally, management proposed a £20m FY26 share buyback, doubling the previous year and exceeding our forecasts. These returns are supported by a stro ....
