Savills plc announce an interim dividend of 6.9p per share

DividendMax Ltd.

Savills plc announce an interim dividend of 6.9p per share

Savills plc announce an interim dividend of 6.9p per share (2022: 6.6p), amounting to £9.4m was paid on 2 October 2023, and a final ordinary dividend of 13.9p per share (2022: 13.4p) is recommended, making the ordinary dividend 20.8p per share for the year (2022: 20.0p). A supplemental interim dividend of 2.0p per share (2022: 15.6p) is declared, taking into account the significantly reduced underlying performance of their Global Transaction Advisory business. Taken together, the ordinary and supplemental interim dividends comprise an aggregate distribution for the year of 22.8p per share, representing a decrease of 36% on the 2022 aggregate ordinary and supplemental dividend of 35.6p.

Subject to Shareholder approval of the proposed final dividend at the AGM on 15 May 2024, the aggregate final and supplementary interim dividends of 15.9p will be paid on 23 May 2024 to Shareholders on the register at 12 April 2024.

Other financial highlights include:

Robust performance of the less transactional businesses, representing 65% of Group revenue, which grew 7%, underpinning overall Group performance

Property Management and Consultancy businesses performed well with revenues increasing 11% to £899.5m and 4% to £459.8m, respectively

Savills Investment Management revenue decreased 6%. Assets under management ('AUM') was stable at £22.1bn (2022: £22.1bn). $1bn commitment from Samsung Life largely awaiting deployment

Global Transactional Advisory revenues, in aggregate 35% of Group revenue, decreased 17%, reflecting significantly reduced capital and leasing market volumes globally

Global Residential revenues declined 19% as markets normalised, following high levels of post pandemic activity, and adapted to higher interest rates

Depth and breadth of team retained throughout the Group to maintain high levels of client service

Strong net cash position provides resilience and enables continued business development activity

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