The final dividend for the year ended 31 March 2022 of 5.5 pence per share (H1 2022: 5.0 pence per share) was paid on 23 September 2022, totaling £51.7m (H1 2022: £48.0m). The Auto Trader Group Board continued its share-buyback programme with a total of 4.9m shares repurchased in the period (H1 2021: 15.8m shares). The average price per share was 619.5p (H1 2022: 636.1p) for a total consideration of £30.6m (H1 2022: £100.4m) before transaction costs of £0.2m (H1 2022 £0.5m).
The Group's long-term capital allocation policy remains broadly unchanged: continuing to invest in the business enabling it to grow while returning around one third of net income to shareholders in the form of dividends. Following these activities any surplus cash, such as that received from the disposal of Webzone, will be used to continue our share buy-back programme and steadily reduce gross indebtedness. It is the Board's long-term intention that the Group will return to a net cash position.
For H1 2023, the Board has declared an interim dividend of 2.8 pence per share. The interim dividend will be paid on 27 January 2023 to members on the register on 6 January 2023.
