Smith & Nephew Plc management proposed a Final Dividend of 23.1¢ per share (46.2¢ per ADS), showing no increase from FY22 (2022: 23.1¢ per share). Together with the Interim Dividend of 14.4¢ per share (28.8¢ per ADS), this will give a total distribution of 37.5¢ per share (75.0¢ per ADS), unchanged from 2022. Subject to confirmation at their Annual General Meeting, the Final Dividend will be paid on 22 May 2024 to shareholders on the register at the close of business on 2 April 2024.
Other financial highlights include:
- Revenue of $5,549 million (2022: $5,215 million), up 7.2% on an underlying basis, ahead of guidance. Reported growth of 6.4% was after -80bps FX headwind
- Orthopaedics underlying growth up 5.7%, setting foundations for further improvement
- Sports Medicine & ENT underlying growth up 10.0%, including headwind from slow China market
- Advanced Wound Management delivered 6.4% underlying revenue growth, maintaining momentum from prior year
- Trading profit up 7.6% on a reported basis to $970 million (2022: $901 million) with 17.5% trading profit margin (2022: 17.3%), in line with guidance. Reported operating profit was $425 million (2022: $450 million)
- Cash generated from operations of $829 million (2022: $581 million) with improved trading cash flow of $635 million (2022: $444 million)
- EPSA 82.8¢ (2022: 81.8¢), EPS 30.2¢ (2022: 25.5¢)
