British American Tobacco increases 2013 Interim Dividend by 7%

DividendMax Ltd.

British American Tobacco increases 2013 Interim Dividend by 7%
•   Group revenue was up by 2% and up by 4% at constant rates of exchange, mainly as a result of continuing good pricing momentum. Exchange rate movements adversely impacted three of the Group’s four regions.
•   Adjusted Group profit from operations increased by 4% and by 6% at constant rates of exchange.
•   The reported profit from operations was 3% higher at £2,807 million.
•   Group cigarette volume was 332 billion, a decline of 3.4%. Total tobacco volume (including cigarettes) was 3.2% lower. This performance was achieved against a total industry decline, a demanding one-off comparator and the leap year impact. Underlying cigarette volume decline was 2%.
•   The Group’s cigarette market share continued to increase in its Top 40 markets, led by good market share growth of the Global Drive Brands, which grew volume by 2.3%.
•   Adjusted diluted earnings per share rose by 8% to 109.1p, principally as a result of the growth in profit from operations. At constant rates of exchange, it was up by 10%.
•   Basic earnings per share were up by 9% at 106.6p (2012: 97.8p).
•   The Board has declared an interim dividend of 45.0p, a 7% increase on last year, to be paid on 30 September 2013.

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