Morrison Supermarkets have proposed an interim ordinary dividend which is up 4.3% to 1.93p. In addition, they are again proposing a special dividend of 2.00p per share, which will take the total interim dividend up 2.1% to 3.93p (2018/19: 3.85p).
Other financial highlights include:
Group like-for-like (LFL) sales(1) ex-fuel/ex-VAT up 0.2% (2018/19: 4.9%)
Q2 Group LFL ex-fuel/ex-VAT down 1.9% (Q2 2018/19: up 6.3%)
Total revenue up 0.4% to £8.83bn (2018/19: £8.80bn)
Profit before tax and exceptionals(2) up 5.3% to £198m (2018/19: £188m)
EPS before exceptionals(2) up 4.1% to 6.38p (2018/19: 6.13p)
Statutory profit before tax up 48.5% to £202m (2018/19: £136m)
Free cash flow(3) up £15m to £244m (2018/19: £229m)
Free cash flow adjusted for disposal proceeds, operating working capital, onerous payments, and non-cash movements up £30m to £211m (2018/19: £181m)
Net debt £2,358m (2018/19 year end: £2,394m). Pre-IFRS 16 net debt £975m, down £22m since the end of 2018/19
