The Reckitt Benckiser Board of Directors recommends an interim 2021 dividend of 73.0 pence (2020: 73.0 pence), consistent with its policy and guidance from February 2020. The ex-dividend date will be 5 August 2021 and the dividend will be paid on 15 September 2021 to shareholders on the register at the record date of 6 August 2021. The last date for election for the share alternative to the dividend is 24 August 2021.
Other financial highlights include:
Excluding IFCN China, H1 LFL net revenue was up 3.7%, and the two-year stacked LFL net revenue growth vs H1 2019 was 17.6%. Including IFCN China the two-year stacked LFL net revenue growth vs H1 2019 was 13.4%.
Q2 2021 LFL net revenue (ex IFCN China) was up 2.2%, as slower growth in Hygiene was partly offset by improving trends in Nutrition and their OTC brands.
H1 2021 adjusted operating margin (ex IFCN China) was 22.7% (H1 2020: 25.1%). Margin including IFCN China was 21.6%, down 290bps, as a result of planned investment, cost inflation and adverse margin mix.
Net loss on a GAAP basis of £2.4bn from agreement to sell IFCN China; operating loss of £3.0bn offset by a net tax credit of £0.6bn (£0.9bn deferred tax credit offset by a tax charge £0.3bn).
Free cash flow was £520m in H1 2021, down 72.7% due to the partial unwind of the working capital benefit in 2020; net debt of £9,084m at 30 June 2021;
