Countrywide increases its 2014 full year dividend by 200%

DividendMax Ltd.

Countrywide increases its 2014 full year dividend by 200%

Strong financial result underpinned by market leadership in our core businesses and breadth of our Group offering (by geography and business line) 

Continued diversification of the Group with circa 40% of profits generated from business streams not directly related to the housing transactions cycle

Group adjusted EBITDA margin now at highest ever level of 17% (2013: 15%)

Appropriate capital structure now in place to maximise future growth opportunities

o net debt remains modest at £103.1 million (2013: £48.4 million)

o access to additional funding if required (revised £250 million revolving credit facility agreed in February 2015).

Final dividend proposed of 10.0p per share payable on 7 May 2015 (total dividend 24.0p per share, including special dividend of 9.0p per share) representing an increase of 200% on 2013

The Board announces an extension to the existing share repurchase programme with plans to spend up to an additional £20 million subject to market conditions

Companies mentioned