As disclosed in the Nichols Group's 2020 Annual Report, the Board evolved the dividend policy to reflect the balance of shareholder needs and the clear opportunities for growth that will exist in the soft drinks market post the pandemic.
In line with the new policy, dividend cover is broadly 2x the adjusted earnings of the Group. As a result, the interim dividend for 2021 will be 9.8p per share to be paid on 10 September 2021 with a record date of 30 July 2021.
Other financial highlights include:
●Vimto Brand Value in the UK +2.7% YTD with Vimto Dilutes significantly outperforming the market
●UK revenue up +5.5% with Out of Home ("OoH") revenues broadly in line with prior year following encouraging Q2 performance
●Vimto international growth of +42.3% versus prior year
○Vimto 'in market' Middle East volumes remained resilient through Ramadan with full year 'in market' volumes expected to remain in line with pre-Sweetened Beverage Tax levels
○Vimto in Africa delivered strong revenue growth of +22.8%
○Vimto continues to progress across the rest of the world, delivering revenue growth of 49.3%
●The business continues to invest in UK operational change in order to ensure continued agility and growth given future prospects
●Strong cash and cash equivalents at £47.4m (31 December 2020: £47.3m)
●2021 Financial Guidance remains unchanged
●New long-term agreement signed with J & J Snack Foods Corp. to manufacture, manage, distribute and sell the SLUSH PUPPiE brand across the UK, Ireland and Europe
