Following the 2.1 pence per ordinary share interim dividend declared at the half year, the Balfour Beatty Board is recommending a final dividend of 4.3 pence per share, giving a total recommended dividend for the year of 6.4 pence per share (2018: 4.8 pence). The Board recognises the importance of dividends to shareholders and expects to deliver a continuation of the progressive dividend policy.
Other financial highlights include:
8% increase in Group underlying profit from operations (PFO) to £221 million (2018: £205 million)
22% increase in PFO from earnings-based businesses to £172 million (2018: £141 million)
68% increase in average net cash to £325 million (2018: £194 million)
52% increase in year end net cash to £512 million (2018: £337 million)
13% increase in order book to £14.3 billion (2018: £12.6 billion); c. 40% increase with recent HS2 approval
Investments portfolio decreased to £1.1 billion (2018: £1.2 billion); US military housing valuation reduced by £79 million