Dignity increases 2013 full year dividend by 10%

DividendMax Ltd.

Dignity increases 2013 full year dividend by 10%


Tenth consecutive year of operating profit growth since flotation in 2004;

Strong operating performance by all three operating divisions;

Profits continue to be converted to cash;

Customer satisfaction remains at very high levels, with 99 per cent of families saying we met or exceeded their expectations and 98 per cent saying they would recommend us;

£58.3 million invested in the Yew Acquisition and a further £3.4 million on other funeral acquisitions, adding a further 45 funeral locations and two crematoria to the Group's portfolio;

The Yew Acquisition, completed in January 2013, has performed in line with the Board's expectations;

12 satellite locations opened within the funeral business;

Memorial sales remain robust;

Another strong year of pre-arranged funeral plan sales, with unfulfilled pre-arranged funeral plans increasing to 323,000; and

£61.9 million of cash returned to shareholders (£1.08 pence per share) in August 2013.

Mike McCollum, Chief Executive of Dignity plc commented:

The Board remains confident in the Group's prospects and considers its well tested strategy is still appropriate in the current market.  As expected, 2014 has started quietly, however the Board's expectations for 2014 remain positive and unchanged."

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