Smiths News announces an interim dividend of 1.4pws

DividendMax Ltd.

Smiths News announces an interim dividend of 1.4pws

An interim dividend of 1.4p per share will be paid on 6 July 2023 by Smiths News to shareholders on the register on 9 June 2023; the ex-dividend date will be 8 June 2023. "This distribution is in line with last year and consistent with the Company's intention, subject to performance, of paying total annual dividends of £10.0m p.a., the maximum payable under the terms of our banking facilities which mature in August 2025." 

Other financial highlights include:

Revenues up 1.0% driven by price increases and sporting & news events

Adjusted operating profit of £20.4m up 6.8%

Inflationary impacts and operational efficiencies in line with planning assumptions

Major contract renewals - 65% of total newspaper and magazine revenues now secured through to at least 2029

Further progress of ancillary revenues and organic business development

Good performance driving Adjusted EPS of 5.6p up 9.8%

Bank Net Debt of £22.9m is down 41.0% and Average Net Debt of £26.3m is down 55.3%

On-track to meet market expectations for the full year

Companies mentioned