The Inchcape Board recommends a final ordinary dividend of 6.9p per ordinary share which is subject to the approval of shareholders at the 2021 Annual General Meeting. In reaching its decision, the Board has taken into account the extraordinary circumstances that the business endured during the year, and a broad range of stakeholder perspectives. If approved, the dividend will be paid on 21 June 2021 to all shareholders on the register on 14 May 2021.
Other financial highlights include:
• Group revenue £6.8bn, down 19% on an organic basis and 27% reported. Q4 organic decline of 9% (Q3: (10)%)
• Pre-exceptional PBT of £129m (2019: £326m); supported by gross margin resilience in the second half (vs prior year)
• Statutory loss before tax of £128m, reflecting £257m of exceptional charges (largely non-cash)
• Further strengthened their financial position: net cash of £266m (Dec-19: £103m), with 2020 free cash flow of £177m
• Continued shift towards Distribution: signed four new distribution agreements and made further Retail disposals