Whitbread Plc announce interim dividend per share increased by 40% to 34.1p per share

DividendMax Ltd.

Whitbread Plc announce interim dividend per share increased by 40% to 34.1p per share

The Whitbread Plc Board has declared an increased interim dividend of 34.1 pence per share (H1 FY23: 24.4 pence), reflecting the Group's performance in the first half, its strong balance sheet, continued current trading momentum and confidence in the full year outlook. This will result in a total interim dividend payment of £66m. The interim dividend will be paid on 8 December 2023 to all shareholders on the register at the close of business on 3 November 2023. Shareholders will be offered the option to participate in a dividend re-investment plan. The Group's dividend policy is to grow the dividend broadly in line with earnings across the cycle. 

Other Financial Highlights Include: 

•  Premier Inn UK: total UK accommodation sales were 15% ahead of H1 FY23 and 55% above H1 FY20, with strong RevPAR growth in both London and the Regions

•  F&B sales increased by 10% vs H1 FY23, driven by a return to year-on-year growth in covers and spend per head

•  Premier Inn Germany: total accommodation sales were up 82% vs H1 FY23 reflecting further room openings and the progressive maturity of the existing estate

•  Group statutory revenue increased by 17% vs H1 FY23 to £1,574m

•  Despite ongoing inflationary pressures, adjusted profit before tax increased by 44% to £391m, including reduced adjusted losses before tax in Germany of £14m; £4m of adjusting items meant that statutory profit before tax increased by 29% to £395m

•  Strong cashflow generation: adjusted operating cash flow increased by £73m to £483m funding further investment in the UK and Germany as well as £364m paid to shareholders during the first half

•  Strong balance sheet: lease-adjusted net debt: adjusted EBITDAR of 2.5x

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