Provident Financial maintains its 2017 dividend

DividendMax Ltd.

Provident Financial maintains its 2017 dividend


Dividend maintained recognising the group's medium-term growth opportunities

First-half adjusted profit before tax1 reduced by 22.6% to £115.3m (2016: £148.9m) and adjusted basic earnings per share1 down by 22.6% to 60.3p (2016: 77.9p) as a result of disruption from the migration of the home credit business to a new operating model with Vanquis Bank, Moneybarn and Satsuma continuing to experience strong growth.

First half statutory profit before tax reduced by 45.6% to £90.0m (2016: £165.4m) and basic earnings per share down 46.3% to 46.2p (2016: 86.0p).

Annualised return on assets2 of 13.1% to June 2017, reduced from 15.7% to June 2016, primarily due to the impact of trading disruption in home credit and the investment to support medium-term growth in Vanquis Bank.

Interim dividend per share maintained at 43.2p (2016: 43.2p).

Companies mentioned