The imperial Brands Board has approved a further interim dividend of 49.31 pence per share and will propose a final dividend of 49.32 pence per share bringing the total dividend for the year to 141.17 pence. This represents a 1.5% increase to the amount of 139.08 pence per share paid in the prior year and is in line with the Group's progressive dividend policy.
The annual dividend represents a payout ratio of 53.2% with respect to basic earnings per share.
The third interim dividend will be paid on 30 December 2022 to shareholders registered on 25 November 2022. Subject to AGM approval, the proposed final dividend will be paid on 31 March 2023 to shareholders registered on 17 February 2023.
Other financial highlights include:
o Five-year strategy on track and delivering improved operational performance
o Aggregate market share for top-five combustible markets up 35bps - first annual share gain in >five years
o Next generation products (NGP) net revenue up 11% driven by market launches in all categories
o Strong adjusted operating cash conversion of 102% enables balance sheet to reach target leverage of 2.0x
o Increased shareholder returns with 1.5% growth in dividend enhanced by an ongoing £1 billion share buyback
o Embedding of culture changes continues, with all 26,000 Imperial colleagues set to complete training in their new purpose, vision and behaviours by calendar year-end
