Dignity drops 2013 Interim dividend in lieu of return of cash to shareholders

DividendMax Ltd.

Dignity drops 2013 Interim dividend in lieu of return of cash to shareholders

Dignity plc (Dignity or the Group), the UK's only listed provider of funeral related services, announces its unaudited interim results for the 26 week period ended 28 June 2013.

Financial highlights

 

26 week period ended  28 June 2013

26 week period ended 29 June 2012

Increase per cent

Revenue (£million)

133.2

116.5

14.3

Underlying operating profit(a) (£million)

45.3

39.2

15.6

Underlying profit before tax(a) (£million)

33.1

27.5

20.4

Underlying earnings per share(b) (pence)

44.0

37.4

17.6

Cash generated from operations(c) (£million)

47.8

40.8

17.2

Operating profit (£million)

44.2

38.9

13.6

Profit before tax (£million)

32.0

27.2

17.6

Basic earnings per share (pence)

42.1

38.7

8.8

Interim dividend (pence) (d)

-

5.36

n/a

(a) Underlying profit is calculated as profit excluding profit on sale of fixed assets and external transaction costs.

(b) Underlying earnings per share is calculated as profit on ordinary activities after taxation, before profit on sale of fixed assets, external transaction costs (both net of tax) and exceptional items, divided by the weighted average number of Ordinary Shares in issue in the period.

(c) Cash generated from operations excludes external transaction costs.

(d) No interim dividend is being paid in 2013, as the Group has announced a Return of Cash to shareholders of £1.08 per Ordinary Share, which, subject to shareholder approval on 8 August 2013, will be paid to shareholders in August 2013.

Companies mentioned