The Dr. Martens Board has approved, and the Company has proposed a final dividend of 4.28p per share (FY21: nil pence). This will bring the total interim and final dividend for FY22 to £55.0m (5.5p), calculated as a 30.4% payout ratio. Subject to approval at the AGM on 14 July 2022, the dividend will be paid to shareholders on the register as at 10 June 2022 with payment on 19 July 2022.
Other financial highlights include:
Strong performance in Americas and EMEA, with reported revenue up 29% and 19% respectively. APAC, smallest region, was heavily impacted by ongoing Covid-19 restrictions, with revenue down 10% to £127.1m
DTC-first strategy drove DTC (Direct-to-Consumer) revenue mix to 49%, up 6pts:
o Ecommerce revenue up 11% and up 92% compared to FY20, with mix of 29%
o Retail saw a good recovery where Covid-19 restrictions were lifted, with revenue up 86% and mix at 20%, up 7pts
Wholesale revenues up 5%, with continued elevation of the quality of their wholesale partners
Gross margin grew 2.8pts to 63.7%, driven by increased DTC. This gross margin performance, partially offset by annualisation of Plc costs, return to business as usual spending and planned increased marketing investment, resulted in an EBITDA margin of 29.0%
The Board is proposing a final dividend of 4.28p, taking the total dividend to 5.50p. This brings the total payout ratio to 30%, from 25% in respect of the interim payout
