DCC increases its 2016 interim dividend by 15%

DividendMax Ltd.

DCC increases its 2016 interim dividend by 15%

26.1% growth in Group operating profit, driven in particular by the performances of DCC Energy and DCC Healthcare.

Adjusted earnings per share on a continuing basis up 18.5% to 70.3 pence.

Interim dividend increased by 15% to 33.04 pence per share.

Strong cash flow performance with investment in net working capital reducing by 4.6 days.

Net cash position at 30 September 2015 of £153 million (pro-forma net debt of £170 million adjusting for the consideration for Butagaz).

Completion of acquisitions of Butagaz (ahead of schedule) and Esso Retail France, with both trading well.

Further bolt-on acquisitions announced today in DCC Healthcare and DCC Technology.

Assuming normal winter weather conditions in the balance of the financial year, the Group expects that both operating profit and adjusted earnings per share for the year ending 31 March 2016 will be very significantly ahead of the prior year and modestly ahead of current market consensus expectations.

Companies mentioned