The Dunelm Group Board has declared an interim ordinary dividend of 16 pence per share, an increase of 7% compared to FY23 (FY23 H1: 15p), at a cash cost of £32m. The interim dividend will be paid on 9 April 2024 to shareholders on the register at the close of business on 14 March 2024.
In addition to this, the strong cash generation in the period has enabled the Board to declare a £71m special dividend of 35 pence per share. The special dividend will also be paid on 9 April 2024 to shareholders on the register at the close of business on 14 March 2024. After these dividend commitments, the Group is within its target leverage range.
Other financial highlights include:
Gross margin up 160bps through promotional discipline
Maintained tight operational grip on costs, with inflationary impacts partly offset by efficiency gains
Profit before tax ("PBT") increased by 4.8% to £123m (FY23 H1: £117m)
Strong free cash flow generation of £91m (FY23 H1: £102m)
