Accuracy Coverage Pricing Help Centre Contact

Pearson declares an interim dividend of 6.0p

Investment Tools Ltd.
Pearson declares an interim dividend of 6.0p

The dividend accounted for in the six months to 30 June 2019 is the final dividend in respect of 2018 of 13.0p. An interim dividend for 2019 of 6.0p was approved by the Board in July 2019 and will be accounted for in the second half of 2019.

Other financial highlights include:

Underlying revenue up 2% with growth across all three segments

North America up 1%, Core up 6% and Growth up 2%.  

Continued momentum in our structural growth opportunities and stabilisation in other parts of the business more than offsets expected declines in US Higher Education Courseware and US Student Assessment. 

Strong performance in our structural growth opportunities driven by enrolment growth in Online Program Management (OPM) and Connections Academy, a continuing ramp-up of contracts in the Professional Certification business (VUE) and strong test volumes in Pearson Test of English Academic.

Pearson's sales decreased by 2% in headline terms largely due to disposals of non core businesses. 

As in previous years, Pearson's sales and profits are weighted towards the second half of the year.

Adjusted operating profit up 30% in underlying terms

Reflecting sales growth and savings from the 2017-2019 restructuring programme, partially offset by cost inflation and other operational factors. 

Strong balance sheet with H1 net debt at £726m (H1 2018: £775m) pre IFRS 16

On a post IFRS 16 basis net debt at the end of H1 2019 was £1,376m.

Interim dividend 6p (H1 2018: 5.5p).

Statutory results

Statutory operating profit from continuing operations was £37m in the first half of 2019 (H1 2018: £233m). The decrease in 2019 is largely due to the lower profit on disposal of businesses and higher restructuring charges in 2019, partly offset by improved trading and additional restructuring savings.

Statutory EPS 6.1p (H1 2018: 24.1p) reflects lower profit on disposal of businesses.

Simplification on track to deliver over £330m annualised cost savings by end of 2019

Incremental cost savings of £60m delivered in the first half.

Completed the Enterprise Resource Planning (ERP) implementation in the US with over 75% of the company by revenue now operating on a single ERP system.

On track to launch the Global Learning Platform (GLP) and a suite of new digital products over the coming months. 

FY 2019 adjusted operating profit guidance unchanged; adjusted EPS upgraded

Continuing to expect Pearson to deliver underlying profit growth and stabilise revenue in 2019, and for revenue to grow in 2020. 

For 2019 we are upgrading the adjusted earnings per share guidance to be between 57.5p to 63.0p reflecting improvements in the finance charge and taxation at exchange rates prevailing on 31st December 2018.

Companies mentioned

Latest News

Investment Tools Limited
Investment Tools Limited

The AstraZeneca Board has recommended an unchanged first interim dividend of $0.90 (69.6 pence, 7.87 SEK) per Ordinary Share.

Read more
Investment Tools Limited

The Schroders group continues to maintain a strong capital position. Accordingly, and reflecting resilient performance, the Board has declared an unchanged interim dividend of 35.0 pence per share (H1 2019: 35.0 pence per share). The dividend will be paid on 24 September 2020 to shareholders on the register at 21 August 2020.

Read more
Investment Tools Limited

Funds under management (FUM) down 8% to $108.3 billion (31 December 2019: $117.7 billion)

Read more
Investment Tools Limited

The BAE directors have declared an interim dividend of 13.8p per share in respect of the year ended 31 December 2019, payable in September, being the value of the dividend proposed but subsequently deferred earlier in the year.

Read more
Investment Tools Limited

As announced on 14 April 2020, as a precautionary measure due to the COVID-19 pandemic, the Board decided to postpone payment of its 2019 final dividend of 39.2 pence per share. Based on the Board's current knowledge, the robust liquidity position, the strong H1 performance and expected full year performance relative to the COVID-19 scenario modelling undertaken, an additional interim dividend equivalent to the postponed full year 2019 dividend of 39.2 pence per share will now be paid on 18 September 2020 to shareholders on the register at 28 August 2020.

Read more
Investment Tools Limited

A key tenet of FDM's relationship with shareholders is the payment of sustainable dividends at an attractive level. After careful thought, the Board decided against proposing a 2019 final dividend to the Annual General Meeting (originally intended to be set at 18.5 pence per share). At the time, the COVID-19 situation was new, uncertain and difficult to assess. Since then the business has performed at an encouraging level, cash collection has been consistent and cash conversion robust. 

Read more
Investment Tools Limited

Smith & Nephew announce an interim dividend is 14.4¢ per share (28.8¢ per ADS), in line with 2019. This equates to 11.2p per share at prevailing exchange rates as of 27 July 2020. The interim dividend will be paid on 28 October 2020 to shareholders on the register at the close of business on 2 October 2020.

Read more
Investment Tools Limited

The Rathbone Brothers Board are maintaining their interim dividend at 25p (30 June 2020: 25p). This reflects confidence in their medium-term prospects and the strength of their balance sheet. The record date will be 4 September 2020 and the dividend will be paid on 6 October 2020.

Read more
Investment Tools Limited

In June the Brunner board declared a first quarterly dividend of 4.67p per ordinary share which was paid on 23 July 2020, a marginal increase on the payment made in the first quarter in the previous year.  The board has now declared a second quarterly dividend of 4.67p per ordinary share payable on 16 September 2020 to holders on the register of members at the close of business on 7 August 2020. A Dividend Reinvestment Plan (DRIP) is available for this dividend and the relevant election date is 21 August 2020.

Read more
More News