Premier Foods propose a final dividend of 1.44pence per share

DividendMax Ltd.

Premier Foods propose a final dividend of 1.44pence per share

Premier Foods directors have proposed a final dividend of 1.44 pence in respect of the 52 weeks ended 1 April 2023 (FY21/22: 1.2p), payable on 28 July 2023 to shareholders on the register at the close of business on 30 June 2023. The shares will go ex-dividend on 29 June 2023. This represents a 20% increase in the dividend paid per share compared to FY21/22, is ahead of adjusted earnings per share growth and is consistent with Board's approach of proposing a progressive dividend to shareholders.

Other financial highlights include:

Full year Branded revenue up +9.1%; Q4 branded revenue up +15.9%

Grocery market share13 increased +64bps compared to prior year

Trading profit +11.5%, ahead of upgraded guidance

Trading profit margins in line with last year as input cost inflation offset by cost savings and increased pricing

International revenue growth up +10%8 with record market share for Mr Kipling in Australia

New categories revenue increased +33% led by early success with Ambrosia porridge pots

Accelerated revenue growth of The Spice Tailor post acquisition; 12 month revenue +25%

Pensions cash contributions NPV reduced by c.50% to c.£125m and cash costs reduced by £6m from FY23/24

FY23/24 expectations for another good year unchanged

Companies mentioned