Bodycote has declared a final dividend of 16.1p (2024: 16.1p), bringing the full year dividend to 23.0p (2024: 23.0p). The interim dividend of 6.9p was paid on 6 November 2025 to shareholders on the register at the close of business on 3 October 2025. Subject to shareholder approval at the 2026 AGM, the final dividend will be paid on 11 June 2025 to shareholders on the register at the close of business on 1 May 2026
The 2024 final dividend of 16.1p per share was paid on 5 June 2025. The 2025 interim dividend of 6.9p per share was paid on 6 November 2025. The proposed final dividend for 2025 of 16.1p, to be paid on 11 June 2026 to shareholders on the register at close of business on 1 May 2026, is subject to approval at the AGM on 27 May 2026 and therefore is not included as a liability in these consolidated financial statements.
Other financial highlights:
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Closing net debt excluding lease liabilities increased to £104.8m (FY24: £68.3m), with leverage remaining low at approximately 0.6x net debt/EBITDA. The £36.5m increase in net debt reflected free cash flow of £47.5m, more than offset by close to £100m in shareholder returns comprising ordinary dividend payments of £40.9m and share buyback programme spend of £57.6m.
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Bodycote will continue to build their M&A pipeline, which has begun to yield results with the purchase of Spectrum Thermal Processing in January 2026. In addition, they returned close to £100m to shareholders in 2025 via dividends (£40.9m) and share buybacks (£57.6m). They completed the fourth £30m tranche of the Group’s share buyback programme in January 2026, taking the total amount repurchased since the programme began in 2024 to £120m. They are announcing a further £80m share buyback which is expected to be completed by the end of 2027. This reflects both the Group’s strong balance sheet and the planned increase in growth investment in the near term to deliver the Group’s strategy.
