The Johnson Matthey PLC board have approved an interim dividend of 22.0 pence per share, an increase of 10% against the prior year (1H 2020/21: 20.0 pence per share). The interim dividend will be paid on 1st February 2022 to shareholders on the register at 3rd December 2021.
Other financial highlights include:
Sales of £1.9 billion, up 21%, driven by a strong recovery in Clean Air and Efficient Natural Resources
Underlying operating profit of £293 million, up 102% and ahead of pre-pandemic levels, driven by strong sales growth and higher average precious metal prices
Underlying EPS of 114.8 pence, up materially reflecting higher underlying operating profit and lower net finance costs
Free cash flow of £189 million, benefiting from continued strong management of working capital (1H 2020/21: £256 million)
Strong balance sheet with net debt of c.£700 million as lower auto demand benefited working capital; net debt to EBITDA of 0.9 times
Return on invested capital (ROIC) of 17.7%, up from 10.4% in the prior year driven by higher underlying operating profit
