Howden Joinery Group increases dividend by 5.4%

DividendMax Ltd.

Howden Joinery Group increases dividend by 5.4%

Howden Joinery Group has increased its dividend by 5.4% from 3.7p per share to 3.9p per share.

Other financial highlights declared in the half year report include:

Howden Joinery UK depot revenue grew by 5.5% to £638.1m (2018: £604.7m), and by 3.4% on a same depot basis. Group revenue was £652.6m (2018: £619.4m);

Gross profit margin of 61.9% (2018: 61.3%), reflected a price increase in January and a more disciplined balance between volumes and price achieved in depots;

Profit before tax of £78.1m (2018: £68.8m), due to good sales growth with improved gross margin, partly offset by continued investment in the business;

£46.3m returned to shareholders through our share buyback programmes; 

Net cash of £217.1m at 15 June 2019 (29 December 2018: £231.3m net cash; 16 June 2018: £213.3m net cash).

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