NWF PLC have proposed to increase their total dividend, by 4.3% to 7.2p per share

DividendMax Ltd.

NWF PLC have proposed to increase their total dividend, by 4.3% to 7.2p per share

The NWF Group Board is recommending a final dividend of 6.2p per share, to be paid to shareholders on 10 December 2021 (2020: 5.9p) giving a total dividend of 7.2p per share (2020: 6.9p), a 4.3% increase on the prior year. This is the tenth year that the Group has increased the dividend, highlighting continual sustained improvements in performance.

Other fiancial highlights:

• Performance ahead of the market expectations established pre-pandemic. Second highest profit performance on record for the Group; prior year benefitted from a significant fall in the oil price.

• Outperformance in Fuels with strong heating oil demand supported by a cold winter and an increase in home working during the pandemic.

• Strong second half recovery in Food delivering on the anticipated benefits of the new Crewe warehouse, which has been fully utilised.

• Feeds performance impacted by the significant increase in feed commodity prices and reduced management information as a result of the cyber incident.

• Continued effective response to Covid-19:

• All divisions have remained open and operational, providing essential services.

• Continually updated risk assessments across the Group, enabling safe working and meeting customer needs.

• No Government support utilised and no staff furloughed.

• Balance sheet remains in a strong position with net debt to headline EBITDA at 0.3x, highlighting the resilience of the Group and providing significant capacity to support investment driven growth.

• Performance to date in the current financial year has been in line with the Board's expectations.

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