Tesco returns to the dividend list with 2017 interim dividend

DividendMax Ltd.

Tesco returns to the dividend list with 2017 interim dividend

Group sales up 3.3% to £25.2bn - seventh consecutive quarter of growth

UK like-for-like sales up 2.2%; transactions up 0.4%; volumes up 0.3%

Strong fresh food volume growth in the UK of 1.5% driven by ongoing improvements in our offer

Group operating profit before exceptional items up 27.3% to £759m; UK & ROI up 21.1% to £471m

Group operating margin up to 2.7% from 2.2% last year; on track for 3.5-4.0% ambition by 2019/20

Improved profit margin in Central Europe (up 132 basis points) and in Asia (up 146 basis points)

Retail operating cash flow up 19.3% to £1.1bn; Retail free cash flow of £586m

Triennial pension review concluded; annual contributions to increase by £15m to £285m from April 2018

Interim dividend of 1.0p per share reflects improved performance and Board confidence

Statutory revenue up 3.7% to £28.3bn; Profit before tax up £491m to £562m

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