The Cranswick Board is proposing a final dividend of 58.8 pence per share, an increase of 5.8 per cent on the 55.6 pence paid last year. Together with the interim dividend of 20.6 pence per share, this equates to a total dividend for the year of 79.4 pence per share, an increase of 5.0 per cent on last year and extends the consecutive years of dividend growth to 33.
The final dividend, if approved by Shareholders, will be paid on 1 September 2023 to Shareholders on the register at the close of business on 21 July 2023. Shares will go ex-dividend on 20 July 2023.
Other financial highlights include:
Statutory profit before tax 7.4% higher at £139.5m (2022: £129.9m)
Statutory earnings per share up 6.4% to 208.3p (2022: 195.7p)
Return on capital employed of 15.8% (2022: 16.9%)
Net debt (excluding IFRS 16 lease liabilities) lower at £20.2m (2022: £36.2m)
Robust balance sheet with £250m bank facility providing significant headroom