The Inchcape Board recommends a final ordinary dividend of 17.9p per ordinary share which is subject to the approval of shareholders at the 2020 Annual General Meeting. This gives a total dividend for the year of 26.8p per ordinary share (2018: 26.8p). The dividend will be paid on 19 June 2020 to all shareholders on the register of members on 15 May 2020. A Dividend Reinvestment Plan (DRIP) is available to Ordinary shareholders and the final date for receipt of elections to participate in the DRIP is 29 May 2020.
Other financial highlights:
- Reported PBT of £402m up 256% y-o-y, reflecting 2019 gains on disposals and 2018 impairment charges
- Pre-exceptional PBT down 7.4% y-o-y in constant currency; stable y-o-y excluding transactional currency impact
- Underlying resilience of profit reflective of Distribution business model and diversification of operations
- Further strategic progress re-shaping the portfolio towards Distribution; first Daimler distribution contract wins
- Continued disciplined capital allocation; £100m buyback completed in 2019 and new £150m buyback for 2020
