Wolseley increases 2014 interim dividend by 25%

DividendMax Ltd.

Wolseley increases 2014 interim dividend by 25%

Financial highlights

Revenue of the ongoing businesses 5.2% ahead of last year including like-for-like growth of 3.2%.

Gross margin of the ongoing businesses of 28.2%, 0.4% ahead of last year.

Trading profit of the ongoing businesses £360 million, 8.8% ahead of last year.

Headline earnings per share of 91.4 pence, 15.3% ahead of last year.

Continued good cash generation with net debt of £927 million (2013: £871 million) after ordinary and special dividend payments of £476 million over the last year.

Proposed interim dividend of 27.5 pence per share, 25.0% ahead of last year, including a rebasing of 15% reflecting the Group's strong and sustainable cash flows.

Companies mentioned