Subject to shareholder approval, Breedon PLC intend to pay a dividend in respect of the 2022 financial results of 2.1p, an increase of 31% from 2021 (1.6p). This equates to a payout ratio of 30% (2021: 27%) of adjusted Underlying EPS. Assuming continued positive trading conditions and cash generation, the Group continues to target a payout ratio of 40% of Underlying EPS over time.
An interim dividend of 0.7p (2021: 0.5p) was paid on 30 September 2022 and, subject to shareholder approval, the remaining 1.4p (2021:1.1p) will be paid as a final dividend on 5 May 2023. Under IFRS dividends are recorded in the financial statements of the accounting period in which they are declared. Accordingly, dividend payments amounting to £30.5m (2021: £8.4m) have been recognised in the 2022 financial statements.