Tate & Lyle propose a final dividend of 12.8pence per share

DividendMax Ltd.

Tate & Lyle propose a final dividend of 12.8pence per share

The Tate & Lyle Directors have proposed a final dividend for the financial year of 12.8p per ordinary share that, subject to approval by shareholders, will be paid on 5 August 2022 to shareholders who are on the Register of Members on 1 July 2022.

Other financial highlights include:

Revenue +18% and adjusted profit before tax +14%

Food & Beverage Solutions maintains positive top-line momentum:

−  Volume +5% with particularly strong performance from Asia, Middle East, Africa and Latin America

−  Revenue +19% with double-digit organic growth across all regions; 2ppts growth from acquisitions

−  Profit +12% benefitting from positive mix; profit +7% including Primary Products Europe at £160m

Robust performance from Sucralose:

−  Volume +15% led by strong demand in beverages and the benefit of production optimisation

−  Revenue +13% with higher volume partially offset by customer mix

−  Profit +15% at £61m

Adjusted diluted EPS +4% reflecting a significantly lower adjusted effective tax rate in the prior year

Pro-forma adjusted diluted EPS at 40.0p assumes full-year effect of share consolidation

Free cash flow of £72m (2021 - £153m) despite higher working capital requirements of £41m due to business separation planning

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