The Imperial Brands Plc Board are announcing an anual dividend per share up 4.0% to 146.82 pence per share, in line with their progressive dividend policy. They are planning on enhancing shareholder returns with 4.0% dividend increase as well as a 10% increase in share buybacks; total FY24 returns of £2.4 billion equivalent to c. 15% of total market value.
Other Financial Highlights Include:
• Adjusted operating cash conversion of 92%, against a strong comparator (102%); free cash flow of £2.4bn
• Investing in organic growth initiatives and targeted bolt-on acquisitions in NGP and Logista
• Adjusted net debt £8.0bn (2022: £8.1bn); adjusted net debt to EBITDA at 1.9x (2022: 2.0x)
• Reported net debt £8.4bn (2022: £8.5bn)
• Annual dividend per share up 4.0% to 146.82 pence per share, in line with our progressive dividend policy
• Ongoing multi-year share buyback with £1.1bn underway for FY24; 10% increase on FY23 buyback
• Cumulative capital returns of £4.7bn in FY23 and FY24
