WH Smith increases its 2015 full year dividend by 13%

DividendMax Ltd.

WH Smith increases its 2015 full year dividend by 13%

Highlights

Group total sales up 1% with like-for-like (LFL) sales flat

o Travel total sales up 9% with LFL sales up 4%

o High Street total sales down 4% with LFL sales down 3%

Gross margin improved by 90 basis points

200 international units now won, 163 units open

o Total sales up 33% to £57m

o LFL sales up 4%

High Street cost savings of £11m delivered in line with plan; increased cost saving target to £20m over the next three years

Total ordinary dividend per share of 39.4p, a 13% increase on the prior year; including final dividend proposed of 27.3p, up 13% on the prior year

Strong cash generation and balance sheet; free cash flow5 of £109m and net funds of £15m as at 31 August 2015

Additional share buyback of up to £50m announced today, having completed the £50m share buyback announced in October 2014

Companies mentioned