The Grafton Group Board has decided to pay an interim dividend for 2022 of 9.25p per share, an increase of 8.8 per cent on last year's interim dividend. The interim dividend is in line with the Board's guidance for full year dividend cover of between two and three times adjusted earnings and reflects the Group's strong balance sheet and profitability and cashflow from operations for the half year.
The interim dividend will be paid on 7 October 2022 by Grafton Group plc to shareholders on the Register of Members at the close of business on 9 September 2022, the record date. The Ex-dividend date is 8 September 2022.
In the half year, the Group had a cash outflow of £52.7 million on payment of the final dividend for 2021.
Other financial highlights include:
Full year adjusted profit expected to be in line with current consensus analysts' forecasts
Small decline in first half adjusted operating profit (before property profit) as expected
Double digit operating profit margin in all segments (before property profit)
Strong adjusted return on capital employed of 18.8%
Cashflow of £137.9 million from operations supports strong balance sheet
Net cash at 30 June 2022 of £520.5 million (before IFRS 16 lease liabilities) providing significant optionality
Sustainability linked refinancing of revolving loan facilities for £334.5 million completed in August