WH Smith increases its 2016 interim dividend by 11%

DividendMax Ltd.

WH Smith increases its 2016 interim dividend by 11%

Group total sales up 4% with like-for-like (LFL) sales up 2%

o Travel total sales up 11% with LFL sales up 5%

o High Street total sales down 1% with LFL sales flat

Gross margin improved by 50 basis points

Headline EPS of 57.4p, up 11% on the prior year

Interim dividend of 13.4p, up 11% on the prior year

Strong cash generation and balance sheet; free cash flow of £58m

At 12 April, 1.1m shares had been purchased and £18m of cash returned to shareholders as part of the up to £50m return of cash to shareholders announced on 15 October 2015.

17 international units won in the half, including wins in Dusseldorf and Alicante airports, giving a total of 217 units won internationally

Continue to deliver cost savings in High Street; £5m delivered in the first half and on target to deliver £4m planned cost savings identified for the second half

Companies mentioned