WH Smith increases its 2014 final dividend by 14%

DividendMax Ltd.

WH Smith increases its 2014 final dividend by 14%

Total ordinary dividend per share of 35.0p, a 14% increase on the prior year; including final dividend proposed of 24.2p, up 14% on the prior year

Strong cash generation and balance sheet; free cash flow of £98m and net funds of £22m as at 31 August 2014

Additional share buyback announced today of up to £50m, having completed the £50m share buyback announced in October 2013

Group total sales down 2% with like-for-like (LFL) sales down 3%

o Travel total sales up 4% with LFL sales flat

o High Street total sales down 6% with LFL sales down 5%

Gross margin improved by 160 basis points

30 international units won during the year, giving a total of 165 units internationally  

Increased target cost savings in High Street to £21m over the next three years

Revised pension deficit funding schedule agreed with Trustees of £3m per annum (2014: £14m)

Companies mentioned