Fevertree Drinks plc announced a final dividend of 10.90 pence per share, bringing the total dividend for 2023 to 16.64 pence per share, an increase of 2% year-on-year. If approved by shareholders at the AGM on 6 June 2024 the final dividend will be paid on 21 June 2024 to shareholders on the register on 17 May 2024.
Other financial highlights inlcude:
· Good underlying sales momentum resulted in revenue growth of 6% despite macroeconomic headwinds.
· The US has grown to become their largest revenue-generating region, with strong growth of 22%.
· Gross margin of 32%, in-line with expectations, with a 280bps improvement delivered in the second half of the year compared to the first half, and further improvements to come in 2024.
· The Group has started 2024 in-line with expectations and remain on track to double EBITDA in FY24.
