Premier Foods announce a full year dividend of 1.2per share

DividendMax Ltd.

Premier Foods announce a full year dividend of 1.2per share

The Premier Foods Board is proposing a dividend for the full year of 1.2 per share, a 20.0% increase on the prior year. This reflects strong earnings per share growth in FY21/22, commitment to a progressive dividend and confidence in the Group's future plans.

Other financial highlights include:

Trading profit, Adjusted PBT and earnings per share ahead of previously raised expectations

Strong branded growth driving volume and value market share gains in both Grocery and Sweet Treats

Successfully navigating macro and industry wide supply chain challenges and continued inflationary environment

Trading profit margin increased 60 basis points to 16.5%, leveraging operational efficiencies

International revenue up +25% vs two years ago; strong growth on Sharwood's and Mr Kipling

Interest costs halved in last two years, reflecting strength of strategic progress and debt refinancing

Pensions merger now delivering through c.£60m reduction in NPV of cash contributions

New ESG strategy, the 'Enriching Life Plan', announced with a series of major sustainability commitments

Expectations for further good progress in FY22/23 unchanged

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