The Greencore Board of Directors are recommending a final dividend of 3.75 pence per share. This will result in a total dividend for the full year of 6.20 pence per share (FY18: 5.57 pence per share). The total dividend represents a pay-out amount of approximately 36% of Adjusted Earnings.
Other financial highlights include:
Pro Forma Revenue Growth in continuing operations of 2.6%, driven by 3.3% growth in food to go categories
Adjusted Operating Profit growth of 0.9%, representing a 30 bps improvement in Adjusted Operating Margin
Adjusted EPS growth of 6.0% to 16.0 pence
Strong improvement in Free Cash Flow Conversion on an underlying basis
Completed strategic reset of the Group following disposal of US business
Reshaped the capital structure including the return of £509.0m of capital to shareholders
Acquired Freshtime, a well-established supplier of meal salads and chilled snacking in the UK, in September 2019
Net Debt of £288.5m, a reduction of £212.6m since the end of FY18, with Net Debt:EBITDA of 1.8x as measured under financing agreements
