The BAE Systems directors have declared an interim dividend of 9.9p per share in respect of the half year ended 30 June 2021. This dividend will be payable on 30 November 2021. The directors have also approved a new share buyback programme of up to £500m over the next 12 months, which will commence immediately.
Other financial highlights include:
- Sales increased by 6% on a constant currency basis to £10.0bn.
- Underlying EBIT of £1,028m increased by 27% on a constant currency basis.
- Underlying earnings per share increased by 25% to 21.9p, excluding the impact of the one-off tax benefit. The Group's underlying effective tax rate (excluding the one-off tax benefit) for the first half of the year was 18%.
- Free cash inflow of £461m (2020 outflow of £110m, excluding the £1bn pension contribution).
- Net debt (excluding lease liabilities) at £2,745m (£2,718m at 31 December 2020).
- Order backlog of £44.6bn (£45.2bn at 31 December 2020).