WH Smith increases its 2015 interim dividend by 12%

DividendMax Ltd.

WH Smith increases its 2015 interim dividend by 12%

Group total sales flat with like-for-like3 (LFL) sales down 2%

o Travel total sales up 7% with LFL sales up 3%

o High Street total sales down 5% with LFL sales down 4%

Gross margin improved by 120 basis points

Interim dividend of 12.1p, up 12% on the prior year

Strong cash generation and balance sheet; free cash flow4 of £55m

Good progress with up to £50m return of cash to shareholders announced on 16 October 2014; as at 15 April, 1.7m shares purchased and £22m of cash returned to shareholders

15 international units won, including a further 4 units in Sydney International Airport, giving a total of 185 units internationally

High Street delivered cost savings of £6m in the half, with a further £5m identified for the second half; on track for £11m of cost savings for the full year

Companies mentioned