Lookers PLC have announced reinstatement of a dividend with a proposed full year dividend of 2.5 pence per share

DividendMax Ltd.

Lookers PLC have announced reinstatement of a dividend with a proposed full year dividend of 2.5 pence per share

The Lookers PLC Board is delighted to confirm that 2022 will see a return to the Company paying dividends, and is proposing a final dividend of 2.5 pence per share in respect of 2021 to be paid in June 2022. Thereafter the Board intends to adopt a progressive dividend policy, underpinned by a capital structure aimed at providing long-term sustainable returns to shareholders.

Other financial highlights include:

Group revenue up 9% to £4,050.7m (2020: £3,699.9m)

Gross profit margin increased to 12.8% (2020: 11.1%)

Underlying profit before tax of £90.1m (2020 restated: £13.7m), primarily driven by used vehicle margins

Exceptional operational performance and working capital management has resulted in net funds of £3.0m (2020: net debt £40.7m)

The Board's capital allocation policy focuses on investment to grow revenue and profits, and maximise shareholder returns through the disciplined deployment of cash

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