The Morrisons Directors have proposed a final ordinary dividend in respect of the financial period ended 2 February 2020 of 4.84p per share which will absorb an estimated £116m of shareholders' funds. Subject to approval at the AGM, the final dividend will be paid on 29 June 2020 to shareholders who are on the register of members on 22 May 2020.
However are not longer paying a special dividend in the wake COVID-19
Other financial highlights include:
●Group like-for-like (LFL) sales ex-fuel/ex-VAT down 0.8% (2018/19: up 4.8%)
●Total revenue down 1.1% to £17.5bn (2018/19: £17.7bn)
●Profit before tax and exceptionals up 3.0% to £408m (2018/19: £396m)
●EPS before exceptionals up 2.6% to 13.18p (2018/19: 12.85p)
●Statutory profit before tax up 43.6% to £435m (2018/19: £303m)
●Free cash flow £238m (2018/19: £281m)
●Free cash flow excluding £57m other non-cash movements, £295m (2018/19: £271m)
●Net debt £2,458m (2018/19: £2,394m)
●Net pension accounting surplus £944m (2018/19: £688m). Triennial pension valuation complete, with funding surplus of £682m (2016/17: £111m)
●ROCE increased to 7.0% (2018/19: 6.9%)
