Tesco's 2011-12 results are shaky but the dividend is safe - 19 April 2012
While pre-tax profits were up 5.3% to £3.8bn, UK profits fell for the first time in living memory by 1% to £2.5bn. The widely mooted dividend cut did not materialize. Instead, the 2011-12 final dividend payment is set at 10.13 pence; up by less than 0.4 per cent when compared to last years' final dividend of 10.09 pence, and this will be paid on July 6th, with the shares going ex-dividend on 25 April.
"Once all the actions announced are duly implemented, we should expect a return to profitable growth in the year to February 2014, with a consensus view expecting pre-tax profits to break through the £4bn mark that year, allowing for dividend growth to resume in the upper single digits for calendar year 2014".
For the full article click on the link below
